Prepare a classified balance sheet. Do not show the components that add up to your answer in requirement 1 but rather show only the line “Cash and Cash Equivalents.” (Amounts to be deducted should be indicated by a minus sign.)Gatti Corporation reported the following balances at June 30. Solution 1. Cash and cash equivalents = Cash + Cash equivalents + Petty cash + Restricted cash = 15 + 20 + 25 + 20 = $80 2. Gatti Corporation Balance Sheet June 30Assets$Liabilities$Current assetsCurrent liabilitiesCash and cash equivalents80Notes payable20Account receivable95Accounts payable105Total current assets175Unearned revenue45Property, plant and equipmentTotal current liabilities170Equipment350Long term liabilitiesLess: Accumulated depreciation-45Notes payable110Property, plant and equipment, net305Total long term liabilities110Total liabilities280Stockholders EquityCommon stock150Retained earnings50Total stockholders equity200Total assets480Total liabilities and stockholders equity480.