The following is the ending balances of accounts at December $31,2018$ for the Valley Pump Corporation.

Account Title Debits Credits

Cash $40,000$

Accounts receivable $86,000$

Inventories $111,000$

Interest payable $25,000$

Marketable securities $74,000$

Land $150,000$

Buildings $375,000$

Accumulated depreciation$$buildings $115,000$

Equipment $105,000$

Accumulated depreciation$$equipment $40,000$

Copyright $($net of amortization$)27,000$

Prepaid expenses $($next $12$ months$)47,000$

Accounts payable $80,000$

Deferred revenues $($next $12$ months$)35,000$

Notes payable $325,000$

Allowance for uncollectible accounts $5,000$

Common stock $350,000$

Retained earnings $40,000$

Totals $1,015,0001,015,000$

Additional information:

The $$150,000$ balance in the land account consists of $$115,000$ for the cost of land where the plant and office buildings are located. The remaining $$35,000$ represents the cost of land being held for speculation.

The $$74,000$ in the marketable securities account represents an investment in the common stock of another corporation. Valley intends to sell one$-$half of the stock within the next year.

The notes payable account consists of a $$130,000$ note due in six months and a $$195,000$ note due in three annual installments of $$65,000$ each, with the first payment due in August of $2019.$

Required:

Prepare a classified balance sheet for the Valley Pump Corporation at December $31,2018.($Amounts to be deducted should be indicated by a minus sign.$)$