Using the Following Data,prepare a Classified Balance Sheet for Blanchard

Essay

Using the following data,prepare a classified balance sheet for Blanchard Corporation as of December 31,2010.
$\begin{array}{lr}\text { Cash } & \$ 200 \\\text { Investments in Short-Term } & 400 \\\text { Government Securities } & \\\text { Accounts Receivable } & 800 \\\text { Inventory } & 3,000 \\\text { Prepaid Rent } & 100 \\\text { Investment in Land Held } & 2,700 \\\text { for future use } & \\\text { Land } & 2,000 \\\text { Building } & 8,000\end{array}\begin{array}{lr}\text { Accumulated Depreciation- } & \$ 1,000 \\\text { Building } & \\\text { Franchise } & 1,800 \\& \\\text { Accounts Payable } & 1,600 \\\text { Revenues Received in Advance } & 400 \\\text { Notes Payable (in two years) } & 4,000 \\\text { Common Stock- \$10 par value, } & 10,000 \\& \\\text { Retained Earnings }&2,000\end{array}$