Baxdy Corporation was established two years ago to mine and sell rapidly expanding and has provided...

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Baxdy Corporation was established two years ago to "mine" and sell rapidly expanding and has provided the trial balance below as at Dec 31, 2023. BAXDY CORPORATION TRIAL BALANCE AS AT DEC 31, 2023 Cash 462,000 Supplies Accounts receivable Equipment Accumulated depreciation - Equipment 275,000 39,763 640,000 82,000 Accounts Payable Wages Payable Short-Term Note Payable Bonds Payable 48,000 24,000 88,000 400,000 Discount on Bonds Payable 48,337 Common stock, $1 par value 50,000 Paid-in capital in excess of par value, Common stock 372,000 Retained Earnings 248,600 Sales revenue 675,000 Cost of goods sold 202,500 Selling, General, & Administrative Expenses 320,000 TOTAL 1,987,600 1,987,600 Additional Information: 1. The short-term notes payable is a 90-day 6% note that was issued on November 1, 2023. The accrued interest has not yet been recorded. 2. The bonds payable is a 10-year 8.00% bond that was issued on January 1, 2023. Interest is paid twice per year on Jul 1 and Jan 1. The market interest rate on the date of issue was 10.00% 3. On Dec 31, 2023, the board of directors declared a $0.70 per share cash dividend payable on Feb 15, 2024 to the shareholders of record on Jan 20, 2024. The declaration has not yet been recorded in the books. REQUIRED: Prepare a classified balance sheet for Baxdy Corporation as at Dec 31, 2023 Baxdy Corporation was established two years ago to "mine" and sell rapidly expanding and has provided the trial balance below as at Dec 31, 2023. BAXDY CORPORATION TRIAL BALANCE AS AT DEC 31, 2023 Cash 462,000 Supplies Accounts receivable Equipment Accumulated depreciation - Equipment 275,000 39,763 640,000 82,000 Accounts Payable Wages Payable Short-Term Note Payable Bonds Payable 48,000 24,000 88,000 400,000 Discount on Bonds Payable 48,337 Common stock, $1 par value 50,000 Paid-in capital in excess of par value, Common stock 372,000 Retained Earnings 248,600 Sales revenue 675,000 Cost of goods sold 202,500 Selling, General, & Administrative Expenses 320,000 TOTAL 1,987,600 1,987,600 Additional Information: 1. The short-term notes payable is a 90-day 6% note that was issued on November 1, 2023. The accrued interest has not yet been recorded. 2. The bonds payable is a 10-year 8.00% bond that was issued on January 1, 2023. Interest is paid twice per year on Jul 1 and Jan 1. The market interest rate on the date of issue was 10.00% 3. On Dec 31, 2023, the board of directors declared a $0.70 per share cash dividend payable on Feb 15, 2024 to the shareholders of record on Jan 20, 2024. The declaration has not yet been recorded in the books. REQUIRED: Prepare a classified balance sheet for Baxdy Corporation as at Dec 31, 2023