Exercise 3-4 Balance sheet preparation [LO3-2, 3-3] The following is a December 31, 2018, post-closing trial balance for the Jackson Corporation Account Title Cash Accounts receivable Inventories Prepaid rent for the next 8 months 17,000 Marketable securities (short term) 11,000 Machinery Accumulated depreciation-machinery Patent (net of amortization) Accounts payable Wages payable Taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals Debits Credits $41,000 35,000 76,000 150,000 $ 12,000 80,000 8,500 4,500 33,000 150,000 110,000 92,000 $410,000 $410,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. JACKSON CORPORATION Balance Sheet At December 31, 2018 Assets