Prepare a classified balance sheet for simon company at

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prepare a classified balance sheet for Simon Company at December 31, 2006.

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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