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These Items Are Taken from the Financial Statements of Donovan

question 53

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These items are taken from the financial statements of Donovan Company. at December 31, 2014.  Buildings $95,800 Accounts receivable 15,600 Prepaid insurance 4,680 Cash 18,840 Equipment 79,400 Land 61,200 Insurance expense 780 Depreciation expense 7,300 Interest expense 2,600 Common stock 57,000 Retained earnings (January 1, 2014) 40,000 Accumulated depreciation-buildings 45,600 Accounts payable 15,500 Mortgage payable 88,600 Accumulated depreciation-equipment 18,720 Interest payable 3,600 Service revenue 17,180\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.

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