ABC ENERGY COMPANY

Post$-$Closing Trial Balance

June $30,2021$

Account Title Debits Credits

Cash $83,000$

Short$-$term investments $65,000$

Accounts receivable $($net$)280,000$

Prepaid expenses $($for the next $12$ months$)32,000$

Land $75,000$

Buildings $320,000$

Accumulated depreciation $-$ buildings $160,000$

Equipment $265,000$

Accumulated depreciation $-$ equipment $120,000$

Accounts payable $173,000$

Accrued liabilities $45,000$

Notes payable $100,000$

Mortgage payable $250,000$

Common stock $100,000$

Retained earnings $172,000$

Totals $1,120,0001,120,000$

Additional Information:

U$.$S$.$ treasury bill purchased in May $-$ July, $2021$ maturity $$18,000$

Accounts receivable:

Amounts owed by customers $$225,000$

Allowance for uncollectible accounts$-$trade customers $(15,000)$

Nontrade notes receivable $($due in $3$ years$)65,000$

Interest receivable on notes $($due in $4$ months$)5,000$

Total $$280,000$

Note payable due on $9/30/2021$ $$50,000$

Note payable due on $11/30/2022$ $$50,000$

Mortgage payable semiannually $($excluding interest$)$ $$5,000$

Shares of no par common stock authorized $500,000$

Shares of common stock issued and outstanding $200,000$

Cost of land under office building $$50,000$

Cost of land held for investment $$25,000$

Given the ending balances of accounts at the end of June $2021$ for ABC Energy Company, prepare a classified balance sheet $($next tab$)$ for ABC Energy at June $30,2021.$ Include headings for each classification $($see the Accounts tab$),$ as well as titles for each classification$$s subtotal.