Chapter 3 Problems: 3-1

The following information was obtained from the accounts of Airlines International dated December 31, 2000. It is presented in alphabetical order.

Accounts payable $77,916

Account receivable $67,551

Accrued expenses $23,952

Accumulated depreciation $220,541

Allowance for doubtful accounts $248.00

Capital in excess of par $72,913

Cash $28,837

Common stock (par $.50, authorized 20,000

Shares, issued 14,304 shares) $7,152

Current installments of long-term debt $36,875

Deferred income tax liability (long-term) $42,070

Inventory $16,643

Investments and special funds $11,901

Long-term debt, less current portion $393, 808

Marketable securities $10,042

Other assets $727

Prepaid expenses $3,963

Property, plant, and equipment at cost $809,980

Retained earnings $67,361

Unearned transportation revenue (airline tickets

Expiring within one year) $6,808

Required: Prepare a classified balance sheet in report form.