Rr.23. The following information is available for Elliot Company.   (c)Prepare a classified balance sheet for the assets section only. The firm’s ending cash balance is $45,000, accounts receivable is 30,000, net PPE is 550,000.

Prepare the balance sheet and income statement by rearranging the above items. Note: Be sure to list the assets and liabilities in order of their liquidity. Enter all amounts as positive values. Cash Receivables Inventories BALANCE SHEET Assets Liabilities and Shareholders' Equity $ 15 Payables $ 35 35 Debt due for repayment 25 50 Total current assets $ 100 Total current liabilities $ 60 Property, plant, and equipment 520 Long-term debt Total liabilities 350 $ 410 Net fixed assets Total assets $ 520 Shareholders' equity 90 $ 620 Total liabilities and shareholders' equity $ 500

please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)

2 for the following questions.   Table 4-2                                     Drummond Company                                           Balance Sheet Assets:     Cash and marketable securities   $400,000 Accounts receivable   1,415,000 Inventories   1,847,500 Prepaid expenses   24,000 Total current assets   3,686,500 Fixed assets 2,800,000   Less: accum. depr. (1,087,500)   Net fixed assets   1,712,500  Total assets   $5,399,000       Liabilities:     Accounts payable   $600,000 Notes payable 875,000 Accrued taxes   92,000 Total current liabilities   $1,567,000 Long-term debt   900,000 Common Stock (100,000 shares)   700,000 Retained Earnings   2,232,000 Total liabilities and owner's equity   $5,399,000       Net sales (all credit)   $6,375,000 Less: Cost of goods sold   (4,375,000) Selling and…