ASSETS Current assets Cash and cash equivalents Short-term investments Example Corporation Balance Sheet December 31, 2020 LIABILITIES Current liabilities $ 2,200 Short-term loans payable $ 5,000 10,000 Current portion of long-term debt 15,000 Accounts receivable - net 39,500 Accounts payable 20,900 Other receivables 1,000 Accrued compensation and benefits 8,500 Inventory 31,000 Income taxes payable 6,100 Supplies 3,800 Other accrued liabilities 4,000 Prepaid expenses 1,500 Deferred revenues 1,500 Total current assets 89,000 Total current liabilities 61,000 Investments 36,000 Long-term liabilities Notes payable 20,000 Property, plant & equipment - net Bonds payable 375,000 Land 5,500 Deferred income taxes 25,000 Land improvements 6,500 Total long-term liabilities 420,000 Buildings 180,000 Equipment 201,000 Total liabilities 481,000 Less: accumulated depreciation (56,000) Property, plant & equipment - net 337,000 Commitments and contingencies (see notes) Intangible assets STOCKHOLDERS' EQUITY Goodwill 105,000 Other intangible assets 200,000 Common stock 110,000 Total intangible assets 305,000 Retained earnings 220,000 Accum other comprehensive income 9,000 Other assets 3,000 Less: Treasury stock (50,000) Total stockholders' equity 289,000 Total assets $770,000 Total liabilities & stockholders' equity $770,000 The accompanying notes are an integral part of this statement.