A B C D E Problem #2-Balance Sheet Preparation XYZ Company provided you the following post-closing trial balance as of 12/31/2021 and asked you to prepare the classified balance sheet in proper form. Accounts Payable 223,000 Accounts Receivable 125,000 =Accumulated Depreciation 150,000 Allowance for Doubtful Accounts 18,000 Bonds Payable 480,000 1 Cash 673,000 2 Common Stock 200,000 3 4 Additional Information: F G H Goodwill 150,000 Interest Payable Inventories 85,000 23,000 Investment 200,000 Land Machinery Retained Eamings (ending) 160,000 250,000 ? as 1. The land account includes land purchased for $40,000 currently being held for speculation (to be sold in the next 6 months) 16 2. Included in the investment account is a $20,000 3-month certificate of deposit. The remaining investments will be sold within a year 17 3. $75,000 of the Bonds Payable account is due in 6 months. The remaining amount will be due in two years 18 4. The common stock outstanding represents 100,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized. 19 20 Required: Prepare a classified balance sheet as of 12/31/2021. 21 22 23 24 25 26 27 28 29 30