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 Debits Credits Cash $ 57,000 Accounts receivable 51,000 Inventories 92,000 Prepaid rent for the next 8 months 33,000 Marketable securities (short term) 27,000 Machinery 230,000 Accumulated depreciationmachinery $ 28,000 Patent (net of amortization) 96,000 Accounts payable 16,500 Wages payable 12,500 Taxes payable 49,000 Bonds payable (due in 10 years) 240,000 Common stock 200,000 Retained earnings 40,000 Totals $ 586,000 $ 586,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.

JACKSON CORPORATION
Balance Sheet
At December 31, 2018
Assets
		0
		0
		$0
		0
		0
		0
		$0