The following is the ending balances of accounts at June 30, 2016, for Excell Company.

Account Title Debits Credits Cash 85,000 Short-term investments 67,000 Accounts receivable 282,000 Prepaid expenses 34,000 Land 77,000 Buildings 322,000 Accumulated depreciationbuildings 161,000 Equipment 266,000 Accumulated depreciationequipment 121,000 Accounts payable 174,000 Accrued expenses 46,000 Notes payable 102,000 Mortgage payable 240,000 Common stock 110,000 Retained earnings 179,000 Totals 1,133,000 1,133,000

Additional information:

1.

The short-term investments account includes $19,000 in U.S. treasury bills purchased in May. The bills mature in July.

2. The accounts receivable account consists of the following:

a. Amounts owed by customers $ 226,000 b. Allowance for uncollectible accountstrade customers (12,000 ) c. Nontrade note receivable (due in three years) 66,000 d. Interest receivable on note (due in four months) 2,000 Total $ 282,000

3.

The notes payable account consists of two notes of $51,000 each. One note is due on September 30, 2016, and the other is due on November 30, 2017.

4.

The mortgage payable is payable in semiannual installments of $4,800 each plus interest. The next payment is due on October 31, 2016. Interest has been properly accrued and is included in accrued expenses.

5.

Seven hundred thousand shares of no par common stock are authorized, of which 220,000 shares have been issued and are outstanding.

6.

The land account includes $51,000 representing the cost of the land on which the company's office building resides. The remaining $26,000 is the cost of land that the company is holding for investment purposes.

Required:

Prepare a classified balance sheet for the Excell Company at June 30, 2016. (Amounts to be deducted should be indicated by a minus sign.)