Required Use the following information to prepare a classified balance sheet

Required
Use the following information to prepare a classified balance sheet

Required

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

2016:

Accounts receivable ……. $36,200

Accounts payable ……… 12,400

Cash …………… 29,650

Common stock ……….. 50,000

Long-term notes payable ….. 45,500

Merchandise inventory …… 38,300

Office equipment …….. 36,400

Retained earnings ……… 36,250

Prepaid insurance …….. 3,600

Required
Use the following information to prepare a classified balance sheet