Here are the account balances taken from the general ledger P.0.7 and statement of retained earnings for Bristolware, Inc.:

a. Preferred 9 percent stock: 3,000 shares authorized, 2,280 shares issued

b. Common stock: 40,000 shares authorized, 36,000 shares issued

Instructions Prepare a classified balance sheet dated December 31.

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Accounts Payable Accounts Receivable Accumulated Depreciation, Building Accumulated Depreciation, Equipment Allowance for Doubtful Accounts $ 338,280 487,290 187,200 102,600 16,920 Building 360,000 Cash 26,130 Common Stock, $15 stated value 540,000 Dividends Payable 24,600 Equipment 218,700 Income Tax Payable 61,800 Land 75,000 Merchandise Inventory Notes Receivable Organization Costs Paid-in Capital from Donation 1,027,530 Mortgage Payable (due June 30, 2010) 145,800 37,800 24,000 21,600 Paid-in Capital in Excess of Stated Value 108,000 Preferred 9 Percent Stock, $100 par value 228,000 Preferred 9 Percent Stock Subscribed Premium on Preferred 9 Percent Stock 72,000 6,000 Prepaid Insurance 2,880 Retained Earnings Retained Earnings Appropriated for Inventory Losses Retained Earnings Appropriated for Plant Expansion Stock Dividend Distributable (3,330 shares) Subscriptions Receivable, Preferred 9 Percent Stock 320,100 25,200 48,000 49,950 36,720