Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals Debits Credits $ 53,000 47,000 88,000 29,000 23,000 210,000 $ 24,000 92,000 14,500 10,500 45,000 200,000 160,000 88,000 $542,000 $542,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2021, by properly classifying each of the accounts. (Amounts to be deducted should be indicated by a minus sign.) JACKSON CORPORATION Balance Sheet At December 31, 2021 Assets Current assets: 0 Total current assets Property, plant, and equipment: 0 Net property, plant, and equipment Intangible assets: Total assets $ 0 Liabilities and Shareholders' Equity Current liabilities: Total current liabilities 0 Long-term liabilities: 0 Total liabilities Shareholders' equity 0 Total shareholders' equity Total liabilities and shareholders' equity $ $ 0