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es Exercise Required Use the following information to prepare a classified balance sheet for Alpha...

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es Exercise Required Use the following information to prepare a classified balance sheet for Alpha Company at the end of Year 1 Accounts receivable Accounts payable Cash Common stock Land Long term notes payable Merchandise inventory Retained earnings Current assets Total current assets Property plant and equipment Total property plant and equipment Total assets Current liabilities 40 110 6 320 17 830 43 000 27 610 21 500 ALPHA COMPANY Classified Balance Sheet As of December 31 Year 1 Assets 30 250 44 980 Liabilities and Stockholders Equity

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