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Adams Company reports the following balance sheet accounts as of December 31. Salaries payable $...

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Adams Company reports the following balance sheet accounts as of December 31. Salaries payable $ 7,500 D. Adams, Capital Buildings 79,000 Notes payable (due in 9 years) Prepaid rent 8,500 Office supplies Merchandise inventory 17,000 Land Accounts payable 25,000 Accumulated depreciation- Building Prepaid insurance Mortgages payable (due in s 6,000 years) Accounts receivable 19,000 Cash $ 90,000 60,000 5,000 52,000 B,000 42,000 46,000 Required: Prepare a classified balance sheet. ADAMS COMPANY Balance Sheet December 31 Assets Current assets $ 0 Total current assets Plant assets 0 Total plant assets Total assets 0 0 S Liabilities Current liabilities $ 0 Total current liabilities Long-term liabilities Total long-term liabilities Total liabilities 0 0 Equity Total equity Total liabilities and equity 0 0 $

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