Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable $ 40,600 Accounts payable 6,845 Cash 14,410 Common stock 44,500 Land 29,070 Long-term notes payable 23,850 Merchandise inventory 29,575 Retained earnings 38,460

ALPHA CO. Classified Balance Sheet As of December 31, Year 1 Current assets Total current assets Property, plant and equipment Total property, plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity