2 pped Problem 3-4 (Algo) Balance sheet preparation [LO3-2, 3-3] The following is the ending balances of accounts at December 31, 2024, for the Welsmuller Publishing Company. Account Title Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Book Accounts payable Interest payable Print Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits $ 73,000 Credits 168,000 289,000 156,000 328,000 $ 114,000 148,000 64,000 24,000 84,000 34,000 220,000 20,000 404,000 198,000 $ 1,162,000 $ 1,162,000 Additional Information: 1. Prepaid expenses Include $128,000 paid on December 31, 2024, for two year of rent on the building that houses both the administrative offices and the manufacturing facility. 2. Investments Include $34,000 in Treasury bills purchased on November 30, 2024. The bills mature on January 30, 2025. The remaining $114,000 Is an Investment in equity securities that the company Intends to sell in the next year. 3. Deferred revenue represents customer prepayments for subscriptions. Subscriptions are for periods of one year or less. 4. The notes payable account consists of the following: a. a $44,000 note due in six months. b. a $104,000 note due in six years. c. a $72,000 note due in three annual Installments of $24,000 each, with the next Installment due August 31, 2025. 5. The common stock account represents 404,000 shares of no par value common stock Issued and outstanding. The corporation has 808,000 shares authorized. Required: Prepare a classified balanced sheet for the Welsmuller Publishing Company at D