These items are taken from the financial statements of Longhorn Co.at December 31, 2022. Buildings Accounts recelvable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2022) Accumulated depreciation--buildings Accounts payable Notes payable Accumulated depreciation-equipment Interest payable Service revenue $105,800 12,600 3,200 11,840 82,400 61.200 780 5,300 2,600 60,000 40,000 45.600 9.500 93,600 18.720 3,600 14.700 Prepare a classified balance sheet. Assume that $13,600 of the note payable will be paid in 2023. (List Current Assets in order of liquidity and Property, plant and Equipment in order of Land, Buildings and Equipment.) LONGHORN COMPANY Balance Sheet For the Year Ended December 31, 20224 Assets Current Assets Cash Accounts Receivable Prepaid Insurance Total Current Assets Property. Plant and Equipment 105800 Buildings Less : Accumulated Depreciation Buildings 45600 Land 61200 18720 i Less :) : Accumulated Depreciation Equipment Total Property, Plant and Equipment Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Notes Payable Current Portion Interest Payable E Total Current Liabilities Long-Term Investments Notes Payable Property. Plant and Equipment Buildings 105800 Less : Accumulated Depreciation Buildings 45600 i Land 61200 Less : Accumulated Depreciation Equipment 18720 Total Property, Plant and Equipment Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Notes Payable Current Portionx Interest Payable Total Current Liabilities Long-Term Investments Notes Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 11840 12600 3200 $ 27840 105800 45600 60200 L 61200 ] 18720 i 63680 185080 212720 Liabilities and Stockholders' Equity $ OP 60000 46020 106020 212720