These Items Are Taken from the Financial Statements of Donovan

Essay

These items are taken from the financial statements of Donovan Company. at December 31, 2014. $\begin{array}{lr}\text { Buildings } & \$ 95,800 \\\text { Accounts receivable } & 15,600 \\\text { Prepaid insurance } & 4,680 \\\text { Cash } & 18,840 \\\text { Equipment } & 79,400 \\\text { Land } & 61,200 \\\text { Insurance expense } & 780 \\\text { Depreciation expense } & 7,300 \\\text { Interest expense } & 2,600 \\\text { Common stock } & 57,000 \\\text { Retained earnings (January 1, 2014) } & 40,000 \\\text { Accumulated depreciation-buildings } & 45,600 \\\text { Accounts payable } & 15,500 \\\text { Mortgage payable } & 88,600 \\\text { Accumulated depreciation-equipment } & 18,720 \\\text { Interest payable } & 3,600 \\\text { Service revenue } & 17,180\end{array}$ Instructions
Prepare a classified balance sheet. Assume that $13,600 of the mortgage payable will be paid in 2015.