The following is a December 31, 2021, post-closing trial balance for Almway Corporation.

Account Title	Debits					Credits
Cash		$	65,000
Investment in equity securities			130,000
Accounts receivable			70,000
Inventory			210,000
Prepaid insurance (for the next 9 months)			8,000
Land			110,000
Buildings			430,000
Accumulated depreciationbuildings					$	110,000
Equipment			120,000
Accumulated depreciationequipment						70,000
Patent (net)			20,000
Accounts payable						95,000
Notes payable						160,000
Interest payable						30,000
Bonds Payable						250,000
Common stock						330,000
Retained earnings						118,000
Totals		$	1,163,000		$	1,163,000

Additional information:

1. The investment in equity securities account includes an investment in common stock of another corporation of $40,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year.
2. The land account includes land which cost $35,000 that the company has not used and is currently listed for sale.
3. The cash account includes $25,000 restricted in a fund to pay bonds payable that mature in 2024 and $33,000 restricted in a three-month Treasury bill.
4. The notes payable account consists of the following:

1. a $40,000 note due in six months.
2. a $60,000 note due in six years.
3. a $60,000 note due in five annual installments of $12,000 each, with the next installment due February 15, 2022.

5. The $70,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $7,000.
6. The common stock account represents 110,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized.

Required: Prepare a classified balance sheet for the Almway Corporation at December 31, 2021.

and explain