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These items are taken from the financial statements of Sunland Company at December 31, 2017. Buildings...

These items are taken from the financial statements of Sunland Company at December 31, 2017.

Buildings $ 107,916
Accounts receivable 12,852
Prepaid insurance 3,264
Cash 12,077
Equipment 84,048
Land 62,424
Insurance expense 796
Depreciation expense 5,406
Interest expense 2,652
Common stock 61,200
Retained earnings (January 1, 2017) 40,801
Accumulated depreciation—buildings 46,512
Accounts payable 9,690
Notes payable 95,472
Accumulated depreciation—equipment 19,094
Interest payable 3,672
Service revenue 14,994



Prepare a classified balance sheet. Assume that $ 13,872 of the note payable will be paid in 2018. (List current assets in order of liquidity and property plant and equipment in order of land, buildings and equipment.)

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