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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $680 were declared at the end

image text in transcribedimage text in transcribed Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $680 were declared at the end of the year, and 500 additional shares of common stock ( $0.10 par value per share) were issued at the end of the year for $3,320 in cash (for a total at the end of the year of 960 shares). These effects are included below: Prepare a classified balance sheet for the end of the current year. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Current assets: } \\ \hline Cash & & 1,580 \\ \hline Accounts receivable & & 2,360 \\ \hline Interest receivable & & 132 \\ \hline Prepaid insurance & & 1,760 \\ \hline Total current assets & & 5,832 \\ \hline Notes receivable & & 3,600 \\ \hline Equipment (net of accumulated depreciation) & & 13,570 \\ \hline Total assets & & 23,002 \\ \hline \multicolumn{3}{|l|}{ Liabilities } \\ \hline \multicolumn{3}{|l|}{ Current liabilities: } \\ \hline Accounts payable & & 2,720 \\ \hline Dividends payable & & 680 \\ \hline Accrued expenses payable & & 4,080 \\ \hline Income taxes payable & & 1,872 \\ \hline Unearned rent revenue & & 580 \\ \hline Total current liabilities & & 9,932 \\ \hline \multicolumn{3}{|l|}{ Stockholders' equity } \\ \hline Common stock & & 96 \\ \hline Additional paid-in capital & & 3,780 \\ \hline Retained earnings & & 9,194 \\ \hline Total stockholders' equity & & 13,070 \\ \hline \end{tabular}

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