Premium Office Supply Company_Balance Sheet

The following is a list of balance sheet accounts (in random order) and balances for the Premium Office Supply Company. They have been updated as of December 31, 2016.

Building                                     $240,000

Land                                              80,000

Retained Earnings                       320,000

Notes Payable (due in 10 yrs)     136,000

Inventory                                     480,000

Equipment                                     96,000

Accounts Payable                       112,000

Common stock                            480,000

Accum Deprec-Bldg                      80,000

Accum Deprec-Equip                    32,000

Cash                                             80,000

Unearned revenue                       16,000

Accounts receivable                   200,000

Required: Prepare a classified balance sheet for Premium Office Supply Company at December 31, 2016