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Clear Water Co. Reports the following balance sheet accounts as of December 31. Buildings $25,000 Accounts receivable 2,000 Land 11,000 Merchandise inventory 7,000 Accounts payable 5,000 Cash 8,000 Notes payable (due in 7 years) 30,000 Office supplies 1,000 Common stock 10,000 Retained earnings 6,000 Wages payable 3,000Required: Prepare a classified balance sheet

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