17 Part 3 of 3 10 points Required information [The following information applies to the questions displayed below.] Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following: Cash Investments (short-term) $24,000 2,100 Accounts receivable Inventory eBook Notes receivable (long-term) Equipment 54,000 Accounts payable Accrued liabilities payable 3,400 Notes payable (current) 29,000 Notes payable (noncurrent) 1,800 Long-term lease liabilities Common stock $17,000 3,700 6,900 48,000 58,000 9,200 Factory building 99,000 Operating lease right-of-use assets 135,000 Additional paid-in capital Retained earnings 82,800 126,500 Intangible assets 3,800 Print References During the current year, the company had the following summarized activities: a. Purchased short-term investments for $7,900 cash. b. Lent $5,800 to a supplier, who signed a two-year note. c. Leased equipment that cost $25,000; paid $4,300 cash and signed a five-year right-of-use lease for the balance. d. Hired a new president at the end of the year. The contract was for $85,000 per year plus options to purchase company stock at a set price based on company performance. The new president begins her position on January 1 of next year. e. Issued an additional 2,400 shares of $0.50 par value common stock for $12,000 cash. f. Borrowed $18,000 cash from a local bank, payable in three months. g. Purchased a patent (an intangible asset) for $1,600 cash. h. Built an addition to the factory for $23,000; paid $7,300 in cash and signed a three-year note for the balance. i. Returned defective equipment to the manufacturer, receiving a cash refund of $2,800. Required: 5. Prepare a classified balance sheet at December 31 of the current year. JAGUAR PLASTICS COMPANY Balance Sheet Current assets: Cash Accounts receivable At December 31 Assets $ 24,000 Total current assets 24,000 Non-current assets: Total non-current assets Total assets Current liabilities: Total current liabilities $ 24,000 Liabilities Stockholders' Equity Total stockholders' equity 0 Total liabilities and stockholders' equity $ 0