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ACT LIN Cash $ 45.000 Investment in equity securities 110.000 Accounts receivable 60.000 Inventory 200.000 Prepaid insurance for the next months) 9.000 Land 90.000 Buildings

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ACT LIN Cash $ 45.000 Investment in equity securities 110.000 Accounts receivable 60.000 Inventory 200.000 Prepaid insurance for the next months) 9.000 Land 90.000 Buildings 430.000 Accumuluted depreciation buildings 100.000 Equipment 110,000 Accumulated depreciation-equipment 60.000 Patent(net) 10.000 Accounts payable 75.000 Notes payable 130.000 Interest payable 20,000 Bonds payable 240.000 Common stock 300.000 Retained earnings 129.000 Totals 51.054.000 $1,054.000 Additional Information 1. The investment in equity securities account includes an investment in common stock of another corporation of $30.000 which management intends to hold for at least three years. The balance of these investment is intended to be sold in the coming year. 2. The land account includes land which cost $25.000 that the company has not used and is currently listed for sale 3. The cash account includes $15.000 restricted in a fund to puy bonds payable that mature in 2024 and $23,000 restricted in a three month Treasurya 4. The notes payable account consists of the following 2. a $30,000 note due in six months b. a $30,000 note due in six years c. a 550,000 note due in five annual installments of $10.000 cach, with the next installment due February 15, 2022 5. The $60,000 bulance in accounts receivable is net of an allowance for uncollectible accounts of $8.000 6. The common stock account represents 100.000 shares of sopar value common stock issued and outstanding. The corporation has 500,000 shares word Required: Prepare a classified balance sheet for the Almway Corporation at December 31, 2021. Include headings for each classification, as well as titles for each classifications subtotal. An example of a classified balance sheet can be found in the Concept Review Exercise at the end of Part A of this chapter

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