The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2016, the end of its fiscal year: cash, $16,000; accounts receivable, $11,000; inventories, $25,000; equipment (net), $80,000; accounts payable, $14,000; wages payable, $9,000; interest payable, $1,000; note payable (due in 18 months), $30,000; common stock, $50,000.

Calculate total current assets and total current liabilities that would appear in the company's year-end balance sheet.

Determine the year-end balance in retained earnings for K and J Nursery, Inc.

Prepare a classified balance sheet for K and J Nursery, Inc. The equipment originally cost $140,000.

Why would investors prefer to see a classified balance sheet? Explain how such presentation and information is useful to them.