CHAPTER 3 The Balance Sheet and Financial Disclosures The following is a December 31, 2018, post-closing trial balance for the Jackson Corporation. E3-4 Balance sheet preparation LO3-2, LO3-3 Account Title Cash Accounts receivable Inventories Prepaid rent for the next 8 months Marketable securities (short term) Machinery Accumulated depreciation-machinery Patent (net of amortization) Accounts payable Wages payable Taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Debits Credits 40,000 34,000 75,000 16,000 10,000 145,000 $11,000 83,000 8,000 4,000 32,000 200,000 100,000 48,000 $403,000 $403,000 Totals Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2018. tli hu cpn E3-5 Balance chest Credits