Selected accounts from Lue Co.'s adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Total equity.......... .... $30,000 Employee federal income taxes payable $9,000 Equipment... .725 Salaries payable... Accounts receivable.. .. 3,100 40,000 Federal unemployment taxes payable .......... 200 . 34,000 FICA-Medicare taxes payable........ .. 5,100 FICA-Social Security taxes payable.... . 50,000 Employee medical insurance payable..... ..4,000 State unemployment taxes payable.. Notes payable (due in 6 years)..... 10,000 Sales tax payable (due in 2 weeks)..... Cash.......... .2,000 Current portion of long-term debt.. . 1,800 ******** 275 **********.

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.