The following adjusted balances are taken from the ledger of Northgate Retail, Inc. at December 31, 2026.
| Account | Amount |
|---|
| Cash | $32,000 |
| Accounts Receivable | 40,000 |
| Merchandise Inventory | 58,000 |
| Prepaid Rent | 6,000 |
| Equipment | 90,000 |
| Accumulated Depreciation - Equipment | 30,000 |
| Accounts Payable | 28,000 |
| Salaries Payable | 4,000 |
| Notes Payable (due 2030) | 44,000 |
| Common Stock | 80,000 |
| Retained Earnings | 40,000 |
Required: Prepare a classified balance sheet at December 31, 2026 in US GAAP order — assets, then liabilities, then stockholders’ equity — ending with total liabilities and stockholders’ equity.