The $150,000 balance in the land account consists of $115,000 for the cost of land where the plant and office buildings are located. the remaining $35,000 represents the cost of land being held for speculation. the $74,000 balance in the investment in equity securities account represents an investment in the common stock of another corporation. valley intends to sell one-half of the stock within the next year. the notes payable account consists of a $130,000 note due in six months and a $195,000 note due in three annual installments of $65,000 each, with the first payment due in august of 2022. required: prepare a classified balance sheet for the valley pump corporation at december 31, 2021. use the additional information to determine appropriate classifications and account balances. (amounts to be deducted should be indicated by a minus sign.)

John and daphne are saving for their daughter ellen's college education. ellen just turned 10 at (t = 0), and she will be entering college 8 years from now (at t = 8). college tuition and expenses at state u. are currently $14,500 a year, but they are expected to increase at a rate of 3.5% a year. ellen should graduate in 4 years--if she takes longer or wants to go to graduate school, she will be on her own. tuition and other costs will be due at the beginning of each school year (at t = 8, 9, 10, and 11).so far, john and daphne have accumulated $15,000 in their college savings account (at t = 0). their long-run financial plan is to add an additional $5,000 in each of the next 4 years (at t = 1, 2, 3, and 4). then they plan to make 3 equal annual contributions in each of the following years, t = 5, 6, and 7. they expect their investment account to earn 9%. how large must the annual payments at t = 5, 6, and 7 be to cover ellen's anticipated college costs? a. $1,965.21b. $2,068.64c. $2,177.51d. $2,292.12e. $2,412.76