Jennings Incorporated provided the following account balances at December 31 for the current year.

Required
a. Prepare the balance sheet at December 31 using the report format
b. Prepare the balance sheet at December 31 using the account format.

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Debit $ 340,000 Investments at fair value (trading Accounts payable Additional paid-in capital Dividends payable Equipment under capital lease Intangible assets-net Merchandise inventory Income taxes payable $324.560 700,000 35,400 670,000 123,000 890,125 65,000 187000 Notes payable, due in 10 years Retained earnings Obligations undar capital leases inoncurrent Obligations under pension plans Deferred tax liability inoncurrent Accumulated other comprehensive income Current portion of long-term debt Property, plant, and equipment-net Investments in affiliate companies (noncurrent Accounts receivable Bonds payable, due in 20 years Common stock, S1 par value 900,000 713,000 640,000 325,675 25,000 235,750 76,000 1.567500 493,960 450,000 606,700 174,500