Exercise 3-4 (Algo) Balance sheet preparation (LO3-2, 3-3] 7 The following is a December 31, 2021, post closing trial balance for the Jackson Corporation. apped Account Title Cash Accounts receivable Inventory Prepaid rent for the next months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals Debata Credatai GS5,000 49,000 90.000 31,000 25,000 220,000 4 26,000 94,000 15,500 11, 900 47,000 220.000 180,000 64,000 6564,000 4564,000 Book Print ferences Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2021, by properly classifying each of the accounts. (Amounts to be deducted should be indicated by a minus sign.) JACKSON CORPORATION Balance Sheet At December 31, 2021 Assets Current assets: 0 Total current assets Property, plant and equipment 0 Nel property, plant, and equipment Intangible assets Assets Current assets: Total current assets Property, plant, and equipment 0 DOK Net property, plant, and equipment Intangible assets 0 Total assets rences $ 0 Liabilities and Shareholders' Equity Current liabilities: Total current liabilities Long-term liabilities: 0 Total liabilities Shareholders' equity D Total shareholders' equity Total liabilities and shareholders' equity 0 0 $