Cougar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following:

Cash	$	28,000		Accounts payable	$	20,000
Investments (short-term)		2,000		Accrued liabilities payable		3,400
Accounts receivable		3,200		Notes payable (short-term)		6,200
Inventory		29,000		Notes payable (long-term)		45,000
Notes receivable (long-term)		2,500		Common stock		10,600
Equipment		51,000		Additional paid-in capital		95,400
Factory building		104,000		Retained earnings		43,600
Intangibles		4,500

During the current year, the company had the following summarized activities:

Purchased short-term investments for $7,300 cash.

Lent $5,400 to a supplier who signed a two-year note.

Purchased equipment that cost $25,000; paid $4,300 cash and signed a one-year note for the balance.

Hired a new president at the end of the year. The contract was for $84,000 per year plus options to purchase company stock at a set price based on company performance.

Issued an additional 2,500 shares of $0.50 par value common stock for $16,000 cash.

Borrowed $11,000 cash from a local bank, payable in three months.

Purchased a patent (an intangible asset) for $1,600 cash.

Built an addition to the factory for $25,000; paid $8,700 in cash and signed a three-year note for the balance.

Returned defective equipment to the manufacturer, receiving a cash refund of $1,800.

5. Prepare a classified balance sheet at December 31 of the current year.

COUGAR PLASTICS COMPANY
Balance Sheet
Assets		Liabilities
			0
	0
			0
		Stockholders' Equity
	0		0
	$0		$0