Account Title		Debits			Credits
Cash	$	60,000
Accounts receivable		54,000
Inventory		95,000
Prepaid rent (for the next 8 months)		36,000
Investment in equity securities (short term)		30,000
Machinery		245,000
Accumulated depreciation				$	31,000
Patent (net)		99,000
Accounts payable					18,000
Salaries payable					14,000
Income taxes payable					52,000
Bonds payable (due in 10 years)					270,000
Common stock					180,000
Retained earnings					54,000
Totals	$	619,000		$	619,000

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:
Cash		$60,000
Accounts receivable		54,000
Inventory		95,000
Prepaid rent		36,000
Investment in equity securities		30,000
Investment in equity securities
Total current assets		275,000
Property, plant, and equipment:
Machinery	$245,000
	(531,000)
Net property, plant, and equipment		(286,000)
Intangible assets:
Total assets		$(11,000)
Liabilities and Shareholders' Equity
Current liabilities:
Total current liabilities		0
Long-term liabilities:
Total liabilities		0
Shareholders equity:
Total shareholders equity		0
Total liabilities and shareholders equity		$0