Additional information: 1. The short-term investments account includes $32,000 in U.S. treasury bills purchased in May. The bills mature in July, 2021 2. The accounts recelvable account consists of the following: a. Amounts owed by customers b. Allowance for uncollectible accounts-trade customers c. Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total $246,000 (18,000) 79,000 1,000 $308,000 3. The notes payable account consists of two notes of $64,000 each. One note is due on September 30, 2021, and the other is due on November 30, 2022 4. The mortgage payable is a loan payable to the bank in semiannual installments of $6,200 each plus interest. The next payment is due on October 31, 2021. Interest has been properly accrued and is included in accrued expenses. 5. Nine hundred thousand shares of no par common stock are authorized, of which 480,000 shares have been issued and are outstanding 6. The land account includes $64,000 representing the cost of the land on which the company's office building resides. The remaining $39,000 is the cost of land that the company is holding for investment purposes. -+-+ Retained earnings Totals ju 70,000 $1,302,000 $1,392,000 Additional information: 1. The short-term investments account includes $32,000 in US treasury bills purchased in May. The bills mature in July, 2021 2. The accounts receivable account consists of the following: a. Amounts owed by customers b. Allowance for uncollectible accounts-trade customers c.Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total 5246,000 (18,000) 79,000 1,000 5308,000 3. The notes payable account consists of two notes of $64,000 each. One note is due on September 30, 2021, and the other is due on November 30, 2022 4. The mortgage payable is a loan payable to the bank in semiannual installments of $6,200 each plus interest. The next payment is due on October 31, 2021. Interest has been properly accrued and is included in accrued expenses. 5. Nine hundred thousand shares of no par common stock are authorized, of which 480,000 shares have been issued and are 6. The land account includes $64,000 representing the cost of the land on which the company's office building resides. The remaining $39,000 is the cost of land that the company is holding for investment purposes. Required: Prepare a classified balance sheet for the Excell Company at June 30, 2021. (Amounts to be deducted should be indicated by a minus sign.) * Answer is not complete. EXCELL COMPANY Balance Sheet At June 30, 2021 Required: Prepare a classified balance sheet for the Excell Company at June 30, 2021 (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. EXCELL COMPANY Balance Sheet At June 30, 2021 Assets s Current assets Cash and cash equivalents Short-term investments Accounts receivable (net) Interest receivable Prepaid insurance OOO 14.300 93,000 308.000 1,000 63.000 479 300 Total current assets Investments Notes receivable Land held for sale $ 79,000 79,000 Property, plant and equipment: Land Buildings Equipment OOO 64.000 308,000 3 Less: Accumulated depreciation buildings 372,000 279.000 Less: Accumulated depreciation buildings 279,000 651,000 $ 1,209,300 Net property, plant and equipment Total assets Liabilities and Shareholders' Equity Current liabilities Accounts payable Accrued liabilities Notes payable (current) Notes payable (current maturities of long-term debt) is 000 187,000 59,000 64,000 -12.400 322.400 Total current liabilities Long-term liabilities: Notes payable (long-term) Mortgage payable 64.000 297,600 Total long-term liabilities Total abilities Shareholders' equity Common stock Retained earnings 361,600 684.000 240,000 Total shareholders' equity Total liabilities and shareholders' equity 240.000 $ 924 000 Additional information: 1. The short-term investments account includes $32,000 in U.S. treasury bills purchased in May. The bills mature in July, 2021 2. The accounts recelvable account consists of the following: a. Amounts owed by customers b. Allowance for uncollectible accounts-trade customers c. Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total $246,000 (18,000) 79,000 1,000 $308,000 3. The notes payable account consists of two notes of $64,000 each. One note is due on September 30, 2021, and the other is due on November 30, 2022 4. The mortgage payable is a loan payable to the bank in semiannual installments of $6,200 each plus interest. The next payment is due on October 31, 2021. Interest has been properly accrued and is included in accrued expenses. 5. Nine hundred thousand shares of no par common stock are authorized, of which 480,000 shares have been issued and are outstanding 6. The land account includes $64,000 representing the cost of the land on which the company's office building resides. The remaining $39,000 is the cost of land that the company is holding for investment purposes. -+-+ Retained earnings Totals ju 70,000 $1,302,000 $1,392,000 Additional information: 1. The short-term investments account includes $32,000 in US treasury bills purchased in May. The bills mature in July, 2021 2. The accounts receivable account consists of the following: a. Amounts owed by customers b. Allowance for uncollectible accounts-trade customers c.Nontrade notes receivable (due in three years) d. Interest receivable on notes (due in four months) Total 5246,000 (18,000) 79,000 1,000 5308,000 3. The notes payable account consists of two notes of $64,000 each. One note is due on September 30, 2021, and the other is due on November 30, 2022 4. The mortgage payable is a loan payable to the bank in semiannual installments of $6,200 each plus interest. The next payment is due on October 31, 2021. Interest has been properly accrued and is included in accrued expenses. 5. Nine hundred thousand shares of no par common stock are authorized, of which 480,000 shares have been issued and are 6. The land account includes $64,000 representing the cost of the land on which the company's office building resides. The remaining $39,000 is the cost of land that the company is holding for investment purposes. Required: Prepare a classified balance sheet for the Excell Company at June 30, 2021. (Amounts to be deducted should be indicated by a minus sign.) * Answer is not complete. EXCELL COMPANY Balance Sheet At June 30, 2021 Required: Prepare a classified balance sheet for the Excell Company at June 30, 2021 (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. EXCELL COMPANY Balance Sheet At June 30, 2021 Assets s Current assets Cash and cash equivalents Short-term investments Accounts receivable (net) Interest receivable Prepaid insurance OOO 14.300 93,000 308.000 1,000 63.000 479 300 Total current assets Investments Notes receivable Land held for sale $ 79,000 79,000 Property, plant and equipment: Land Buildings Equipment OOO 64.000 308,000 3 Less: Accumulated depreciation buildings 372,000 279.000 Less: Accumulated depreciation buildings 279,000 651,000 $ 1,209,300 Net property, plant and equipment Total assets Liabilities and Shareholders' Equity Current liabilities Accounts payable Accrued liabilities Notes payable (current) Notes payable (current maturities of long-term debt) is 000 187,000 59,000 64,000 -12.400 322.400 Total current liabilities Long-term liabilities: Notes payable (long-term) Mortgage payable 64.000 297,600 Total long-term liabilities Total abilities Shareholders' equity Common stock Retained earnings 361,600 684.000 240,000 Total shareholders' equity Total liabilities and shareholders' equity 240.000 $ 924 000