In reviewing the statement prepared by the accountant I have found several deficiencies in the balance sheet. The first deficiency that I found is the interest receivable amount should have been separated from the note receivable and included in the current asset section of the balance sheet. An investments classification should also be added. Since the note receivable is not due within the year it should not be considered an asset and should be removed from the current assets and placed in the investments section of the statement. In the investment section, investments should also be included and removed from the current asset section. The other assets classification should be completely removed from the statement. Land should be classified as land held for investment under the investments classification, equipment should be listed under the property, plant and equipment classification.