Exercise 3-4 (Algo) Balance sheet preparation [LO3-2, 3-3] The following is a December 31, 2024, post-closing trial balance for the Jackson Corporation. Account Title Cash Accounts receivable. Inventory Prepaid rent (for the next 8 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) Retained earnings Debits $ 42,000 Credits 36,000 77,000 18,000 12,000 155,000 $13,000 81,000 9,000 5,000. 34,000 160,000 120,000 80,000 $ 421,000 $ 421,000 Common stock Totals Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2024, by property classifying each of the acco Note: Amounts to be deducted should be indicated by a minus sign.