The following is the ending balances of accounts at June 30, 2018 for Excell Company. Credits $ Debits 123,000 105,000 320,000 72,000 115,000 360,000 Account Title Cash Short-term investments Accounts receivable Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Accounts payable Accrued expenses Notes payable Mortgage payable Common stock Retained earnings 180,000 285,000 140,000 193,000 65,000 140,000 330,000 300,000 32,000 $1,380,000 Totals $1,380,000 Additional information: 1. The short-term investments account includes $38,000 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 b.Allowance for uncollectible accounts-trade customers c. Non trade note receivable (due in three years) d. Interest receivable on note (due in four months) $261,000 (28,000) 85,000 2,000 Total $ 320,000 3. The notes payable account consists of two notes of $70,000 each. One note is due on September 30, 2018, and the other is due on November 30, 2019. 4. The mortgage payable is payable in semiannual installments of $6,600 each plus interest. The next payment is due on October 31, 2018. Interest has been properly accrued and is included in accrued expenses. 5. Eight hundred thousand shares of no par common stock are authorized, of which 600,000 shares have been issued and are outstanding. 6. The land account includes $70,000 representing the cost of the land on which the company's office building resides. The remaining $45,000 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, 2018. (Amounts to be deducted should be indicated by a minus sign.) X Answer is not complete. EXCELL COMPANY Balance Sheet At June 30, 2018 Assets Current assets Cash and cash equivalents Short-term investments Accounts receivable, net of allowance Sets Interest receivable Prepaid expenses Investments Note receivable Land held for sale Property, plant, and equipment Land Buildings Equipment Less: Accumulated depreciation equipment Net property, plant, and equipment Total assets Current liabilities Accounts payable Accrued expenses Accounts payable Current maturities of long-term debt Long-term liabilities Mortgage payable Total liabilities Shareholders' equity Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $ 0