ALMWAY CORPORATIONBalance SheetAt December 31, 2024AssetsCurrent assets:Net accounts receivable0Total current assets0Investments:Total investments0Property, plant, and equipment:0Net property, plant, and equipment0Intangible assets:Other assets:Total assets$0Liabilities and Shareholders' EquityCurrent liabilities:Total current liabilities0Long-term liabilities:Total long-term liabilities0Total liabilities0Shareholders' equity:Total shareholders' equity0Total liabilities and shareholders' equity$0

The following is a December 31, 2024, post-closing trial balance for Almway Corporation.

Account TitleDebitsCreditsCash$ 81,000Investment in equity securities146,000Accounts receivable78,000Inventory218,000Prepaid insurance (for the next 9 months)7,000Land126,000Buildings438,000Accumulated depreciationbuildings$ 118,000Equipment128,000Accumulated depreciationequipment78,000Patent (net)28,000Accounts payable111,000Notes payable184,000Interest payable38,000Bonds Payable258,000Common stock354,000Retained earnings109,000Totals$ 1,250,000$ 1,250,000

Additional information:

1. The investment in equity securities account includes an investment in common stock of another corporation of $48,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year.
2. The land account includes land which cost $43,000 that the company has not used and is currently listed for sale.
3. The cash account includes $33,000 restricted in a fund to pay bonds payable that mature in 2027 and $41,000 restricted in a three-month Treasury bill.
4. The notes payable account consists of the following:

4a $48,000 note due in six months.

4b $68,000 note due in six years.

4c $68,000 note due in five annual installments of $13,600 each, with the next installment due February 15, 2025.

1. The $78,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $7,000.
2. The common stock account represents 118,000 shares of no par value common stock issued and outstanding. The corporation has 600,000 shares authorized.

Required:

Prepare a classified balance sheet for the Almway Corporation at December 31, 2024