Current maturities of long term debt IS NOT an option

The following is a December 31, 2021, post-closing trial balance for Almway Corporation. Account Title Cash Investment in equity securities Accounts receivable Inventory Prepaid insurance for the next 9 months) Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patent (net) Accounts payable Notes payable Interest payable Bonds Payable Common stock Retained earnings Totals Debits Credits 83,000 148,000 79,000 219,000 9,000 128,000 439,000 $ 119,000 129,000 79,000 29,000 113,000 187,000 39,000 259,000 357,000 110,000 $1,263,000 $1,263,000 Additional Information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $49,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year. 2. The land account includes land which cost $44,000 that the company has not used and is currently listed for sale. 3. The cash account includes $34,000 restricted in a fund to pay bonds payable that mature in 2024 and $42,000 restricted in a three-month Treasury bill. 4. The notes payable account consists of the following: a. a $49,000 note due in six months. b. a $69,000 note due in six years. c. a $69,000 note due in five annual installments of $13,800 each, with the next installment due February 15, 2022. 5. The $79,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $6,000. 6. The common stock account represents 119,000 shares of no par value common stock issued and outstanding. The corporation has 600,000 shares authorized. Required: Prepare a classified balance sheet for the Almway Corporation at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) $ Balance Sheet At December 31, 2021 Assets Current assets: Cash and cash equivalents Short-term investments Accounts receivable Allowance for uncollectible accounts Net accounts receivable Inventory Prepaid insurance 49,000 99,000 85,000 (6,000) 79,000 219,000 9,000 455,000 Total current assets Investments: Investment in equity securities Land held for sale Restricted cash 49,000 44,000 34,000 127,000 Total investments Property, plant, and equipment: Land Buildings Equipment 84,000 439,000 129,000 652,000 (119,000) (79,000) Less: Accumulated depreciation - buildings Less: Accumulated depreciation - equipment Net property, plant, and equipment 454,000 Intangible assets: Patent (net) 29,000 $ 1,065,000 Total assets Liabilities and Shareholders' Equity Current liabilities: Accounts payable Interest payable Income taxes payable Notes payable $ 113,000 39,000 X 49,000 X 13,800 214,800 Total current liabilities Long-term liabilities: Notes payable Bonds payable $ 124,200 259.000 383,200 598,000 Total long-term liabilities Total liabilities Shareholders' equity: Common stock Retained earnings 357,000 110,000 Total shareholders' equity Total liabilities and shareholders' equity 467,000 $ 1,065,000