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D E F G H The December 31, 2018, post-closing trial balance ($ in millions) for Watkins Company is presented below: Debits Credits Cash
D E F G H The December 31, 2018, post-closing trial balance ($ in millions) for Watkins Company is presented below: Debits Credits Cash 25,500 Investments (long-term) 55,000 Accounts receivable 30,000 Allowance for uncollectible accounts 5,500 Prepaid insurance 4,500 Inventories 100,000 Land 44,000 Buildings 140,000 Accumulated depreciation-buildings 50,000 Equipment 134,500 Accumulated depreciation-equipment 30,000 Patents (unamortized balance) 3,000 7 Accounts payable 38,500 8 Notes payable, due 2019 65,000 9 Interest payable 8,000 20 Bonds payable, due 2028 21 Common stock, no par, 20,000 shares 22 authorized, issued and outstanding 23 Retained earnings 120,000 155,000 64,500 Totals 536,500 536,500 24 25 26 27 Prepare a classified balance sheet for Watkins Company at December 31, 2018. 28 (35 pts) 29 30
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