Larkin Corporation provided the following account balances prepared at December 31 of 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.

Transcribed Image Text:

Debit Credit S891,500 10,000 Equipment under capital lease Intangible assets -net 200,900 725,000 Notes payable, due in 10 years Accumulated other comprehensive loss Current porton of long-term debt Property, plant, and equipment-net Investments in affikate companies (noncurrenti 345,000 123,543 Bonds payable, due in 20 years Investments at fair value icurrent Obligations under capital leases Obligations under pension plans Deferred tax liability Inoncurrent Common stock, $1 par value