The adjusted trial balance for Martell Bowling Alley at December 31, 2014, contains the accounts shown on page 198.

Instructions
(a) Prepare a classified balance sheet; assume that $22,000 of the note payable will be paid in 2015.
(b) Comment on the liquidity of thecompany.

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Debit Buildings Accounts Receivable Prepaid Insurance Cash Equpment Land Insurance Expense Depreciation Expense Interest Expense Credit $115,000 14,520 Accumulated Depreciation-Buildings 42,600 12,300 97,780 62,400 Accumulated Depreciation-Equipment 18,720 2,600 17,180 $306,180 $128,800 Owner's Capital 4,680 Accounts Payable 18,040 Notes Payable 67,000 Interest Payable 780 Service Revenue 7,360 2,600 $306,180