3. Prepare a classified balance sheet for B&L Landscapes, Inc. for July 31, 2017.

4. On December 15, 2017, Crestline Pipe, Inc. pays a $5,000 dividend. Prepare the journal entry, in good form, to record B&L?s receipt of their share of the dividend. Record this on Page 4 of the General Journal. Explanations are optional.

5. Crestline Pipe, Inc. reports total net income of $21,500 for the year ending December 31, 2017.

6. Record the necessary adjusting journal entries for B&L Landscapes, Inc. investments and bonds on Page 5 of the General Journal. Explanations are optional.

GENERAL JOURNAL DATE DESCRIPTION Page POST. REF. DEBIT July 31 Cash Bonds Payable J3 J3 50,000.00 31-Jul Stock Investment Cash J3 J3 70,000.00 DESCRIPTION 70,000.00 Page POST. REF. Dec 15 Cash Stock Investments DEBIT DESCRIPTION Dec 31 Stock Investment Revenue from Stock Investments 02/21/2017 4 CREDIT 5,000.00 5,000.00 GENERAL JOURNAL DATE CREDIT 50,000.00 GENERAL JOURNAL DATE 3 Page POST. REF. DEBIT 5 CREDIT 1,550.00 1,550.00 GENERAL LEDGER ACCOUNT Cash ACCOUNT NO. POST DATE DESCRIPTION REF. July 31 31 J3 J3 BALANCE DEBIT CREDIT 50,000 70,000 ACCOUNT Bonds Payable DESCRIPTION July 31 REF. BALANCE DEBIT J3 CREDIT July 31 DESCRIPTION J3 Credit 50,000 ACCOUNT NO. POST REF. Debit 50,000 ACCOUNT Stock Investments DATE Credit ACCOUNT NO. POST DATE Debit 47750.00 97,750 27,750 BALANCE DEBIT 70,000 CREDIT Debit 70000.00 Credit Missing Account No on ledger -1 SP17 B&L LANDSCAPES, INC. BALANCE SHEET July 31, 2015 Assets Cash Accounts Receivable Less: Allowance for doubtful accounts Prepaid Insurance Inventory Stock Investments Total Current Assets Land Building Less:Accumulated Depreciation Equipment Less: Accumulated Depreciation Total Assets 11,500 400 35,000 1,750 37,600 3,500 Liabilities and Stockholders Equity Current Liabilities Accounts Payable Long-term Liabilities Notes Payable Bonds Payable Total Liabilities Stockholder's Equity Preferred Stock Common Stock Retained Earnings Total Liabilities and Stockholders Equity 7,000 35,100 117,300 A classified Balance Sheets has sections for Current Assets, Investments, PP&E with totals for each section -1 $27,750.00 11,100 1,700 79,000 70,000 Stock Investments aren't current assets, double check the example Balance Sheets in the eText in Chapter 16 for 189,550 9,000 33,250 34,100 265,900 11,500 45,000 50,000 106,500 159,400 265,900 E with totals for each section -1 eets in the eText in Chapter 16 for an example -1 SP17