Business, 06.10.2019 10:01 laineyherman

The $134,000 balance in the land account consists of $107,000 for the cost of land where the plant and office buildings are located. the remaining $27,000 represents the cost of land being held for speculation. the $58,000 balance in the investment in equity securities account represents an investment in the common stock of another corporation. valley intends to sell one-half of the stock within the next year. the notes payable account consists of a $114,000 note due in six months and a $171,000 note due in three annual installments of $57,000 each, with the first payment due in august of 2022. prepare a classified balance sheet for the valley pump corporation at december 31, 2016. (amounts to be deducted should be indicated by a minus sign.)

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