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The following is the balance sheet of Korver Supply Company at December 31. 2015. Transactions during 2016 were as follows: The note payable is dated

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The following is the balance sheet of Korver Supply Company at December 31. 2015. Transactions during 2016 were as follows: The note payable is dated June 30, 2015 and is due on June 30, 2017. Interest at 6% is payable annually on June 30. Depreciation on the furniture and fixtures for the year is $22,000. The furniture and fixtures originally cost $320,000. Required: Prepare a classified balance sheet at December 31. 2016 (ignore income taxes). (Amounts to be deducted should be indicated by a minus sign.)

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