The following is the ending balances of accounts at December 31, 2016, for the Valley Pump Corporation

Account Title	Debits	Credits
Cash	28000
Accounts receivable	62000
Inventories	87000
Interest payable		13000
Marketable securities	50000
Land	126000
Buildings	315000
Accumulated depreciationbuildings		103000
Equipment	81000
Accumulated depreciationequipment		28000
Copyright (net of amortization)	15000
Prepaid expenses	35000
Accounts payable		68000
Deferred revenues		23000
Notes payable		265000
Allowance for uncollectible accounts		8000
Common stock		230000
Retained earnings		61000
Totals	799000	799000

Additional information:

1. The $126,000 balance in the land account consists of $103,000 for the cost of land where the plant and office buildings are located. The remaining $23,000 represents the cost of land being held for speculation.

2. The $50,000 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

3. The notes payable account consists of a $106,000 note due in six months and a $159,000 note due in three annual installments of $53,000 each, with the first payment due in August of 2017

Required:

Prepare a classified balance sheet for the Valley Pump Corporation at December 31, 2016. (Amounts to be deducted should be indicated by a minus sign.)