### Making of classified balance sheet

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From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.

 Accounts payable \$ 62,500 Accounts receivable 123,000 Buildings 418,500 Owners' equity, 1/1/06 210,000 Cash 179,750 Distributions to owners during 2006 21,750 Supplies 3,750 Land 130,000 Mortgage payable 479,500 Net income for 2006 124,750 Owners' equity, 12/31/06 ?

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