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b The following is a December 31, 2021, post-closing trial balance for Culver City Lighting, Inc. Credits Debits $ 55,000 39,000 45,000 15,000 100,000 Account
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The following is a December 31, 2021, post-closing trial balance for Culver City Lighting, Inc. Credits Debits $ 55,000 39,000 45,000 15,000 100,000 Account Title Cash Accounts receivable Inventory Prepaid insurance Equipment Accumulated depreciation Patent (net) Accounts payable Interest payable Notes payable (due in 10 years) Common stock Retained earning Totals $ 34,000 40,000 12,000 2,000 100,000 70,000 76,000 $294,000 $294,000 Prepare a classified balance sheet for Culver City Lighting, Inc. (Amounts to be deducted should be indic CULVER CITY LIGHTING, INC. Balance Sheet At December 31, 2021 Assets Current assets Total current assets Property, plant, and equipment: 0 Net property, plant, and equipment Intangible assets: 0 Total assets $ 0 Total current assets Property, plant, and equipment: 0 Net property, plant, and equipment Intangible assets 0 Total assets $ 0 Llabilities and Shareholders' Equity Current liabilities: Total current liabilities Long-term liabilities: 0 Total liabilities Shareholders' equity 0 Total shareholders' equity Total liabilities and shareholders' equity 0 $ 0 Step by Step Solution
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