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JPMorgan Chase & Co. has the following balances as of December 31, 2023: Cash: $900,000 Accounts Receivable: $1,800,000 Prepaid Insurance: $250,000 Equipment: $7,000,000 Accumulated Depreciation:

JPMorgan Chase & Co. has the following balances as of December 31, 2023:

  • Cash: $900,000
  • Accounts Receivable: $1,800,000
  • Prepaid Insurance: $250,000
  • Equipment: $7,000,000
  • Accumulated Depreciation: $3,000,000
  • Accounts Payable: $1,200,000
  • Salaries Payable: $250,000
  • Common Stock: $2,200,000
  • Retained Earnings: $1,760,000

Prepare a classified balance sheet for JPMorgan Chase & Co. as of December 31, 2023.

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