Having trouble figuring which is long term and current assets and liabilities;

Accounts Payable $62,500
Accounts receivable $123,000
Buildings $418,500
Owners" equity 1/1/06 $210.000
Cash $179,500
Distributions to owners during 2006 $21,750
Supplies $3,750
Land $130,000
Motgage Payable $479,500
Net income for 2006 $124,750
Owners' equity, 12-31-06 ?

Current Assets:
Cash $179,500
Accounts receivable $123,000
Supplies $3,750

Fixed Assets:
Buildings $418,500
Land $130,000


Current Liabilities:
Accounts Payable $62,500

Long term Liabilities:
Mortgage Payable $479,500


Equity:
Owners" equity 1/1/06 $210.000
Distributions to owners during 2006 $21,750
Net income for 2006 $124,750
Owners' equity, 12-31-06 ?

To Calculate OW for 12-31-06: Opening 210 – Distributions 21,750 + Net Income 124,750

Hi the answer to this is
Simon Company
Balance Sheet
December 31, 2006

Assets
Current assets:
Cash $179,750
Accounts receivable 123,000
Supplies 3,750
Total current assets $306,500

Long-term assets:
Land $130,000
Buildings 418,500
Total long-term assets 548,500
Total assets $855,000

Liabilities and Owners' Equity
Liabilities:
Accounts payable $62,500
Mortgage payable 479,500
Total liabilities $542,000
Owners' equity 313,000*
Total liabilities and owners' equity $855,000

*Computations of Owners' Equity:

Owners' equity, January 1, 2006 $210,000
Add net income for 2006 124,750
$334,750
Less distribution to owners during 2006 21,750
Owners' equity, December 31, 2006 $313,000


This is what the instructor sent back to me.