Presented below are a number of balance sheet items for Letterman, Inc., for the current year, 2008.

Instructions
Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of trading securities are thesame.

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S 125,000 Accumulated depreciation-equipment 292,000 239,800 45,000 98,362 480,000 200,000 150,000 87,920 1,470,000 121,000 170,200 1,640,000 Payroll taxes payable Bonds payable Discount on bonds payable 177,591 Inventories 300,000 15,000 360,000 480,000 545,700 265,000 590,000 Rent payable-short-term Taxes payable Long-term rental obligations Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Trading securities Notes receivable Notes payable to banks Accounts payable Retained earnings Income taxes receivable Unsecured notes payable (long-term) 1,600,000 Building 97,630 Accumulated depreciation-building