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As controller for Henderson, you are attempting to reconstruct and revise the following balance sheet prepared by a staff accountant. Henderson Manufacturing Company Balance Sheet

As controller for Henderson, you are attempting to reconstruct and revise the following balance sheet prepared by a staff accountant.

Henderson Manufacturing Company Balance Sheet At December 31, 2021 ($ in 000s)
Assets
Current assets:
Cash $ 1,900
Accounts receivable 4,500
Allowance for uncollectible accounts (400 )
Finished goods inventory 6,600
Prepaid expenses 3,200
Total current assets 15,800
Long-term assets:
Investments 2,800
Raw materials and work in process inventory 3,700
Equipment 18,500
Accumulated depreciationequipment (8,800 )
Franchise ?
Total assets $ ?
Liabilities and Shareholders Equity
Current liabilities:
Accounts payable $ 7,000
Notes payable 6,000
Interest payablenote 200
Deferred revenue 2,400
Total current liabilities 15,600
Long-term liabilities:
Bonds payable 11,000
Interest payablebonds 400
Shareholders equity:
Common stock $ ?
Retained earnings ? ?
Total liabilities and shareholders equity ?

Additional information ($ in 000s):

  1. Certain records that included the account balances for the franchise and shareholders equity items were lost. However, a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 1.5. That is, total liabilities are 150% of total shareholders equity. Retained earnings at the beginning of the year was $3,000. Net income for 2021 was $2,100, and $800 in cash dividends were declared and paid to shareholders.
  2. The investments represent treasury bills purchased in December 2021 that mature in January 2022. These are considered cash equivalents.
  3. Interest on both the notes and the bonds is payable annually.
  4. The notes payable account contains one note that is due in annual installments of $600 for each payment due.
  5. Deferred revenue will be recognized equally over the next 18 months.
  6. The common stock represents 500,000 shares of no par stock authorized, of which 300,000 shares are issued and outstanding.

Required: Prepare a complete, corrected, classified balance sheet. (Do not round your intermediate calculations. Enter your answers in the order of their liquidity. Amounts to be deducted should be indicated by a minus sign. Enter your answers in thousands of dollars.)

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