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Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1. Accounts receivable: $42,380 Accounts payable: 9,085

Use the following information to prepare a classified balance sheet for Alpha Co. at the end of Year 1.

Accounts receivable: $42,380

Accounts payable: 9,085

Cash: 13,870

Common stock: 41,000

Land: 15,000

Long-term notes payable: 24,200

Merchandise inventory: 28,475

Retained earnings: 25,440

( I have an hour before my time is up!! )

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