lassified Balance Sheet (24 points)

Listed below are year-end, 12/31/21, account balances ($ in thousands) taken from the records of XYZ Corporation

XYZ Corporation
Adjusted Trial Balance
December
			Debit		Credit
Accounts Receivable			600
Building			580
Equipment			375
Cash			125
Inventory			90
Land			300
Notes Receivable			630
Investments			330
Prepaid rent (for the next 2 years)			60
Supplies			20
Trademark			50
Prepaid insurance (for the next 3 years)			120
Accounts Payable					620
Accumulated depreciation-Equipment					225
Accumulated depreciation-Buildings					180
Total shareholders' equity					1210
Dividends payable					50
Income tax payable					80
Allowance for Uncollectible Accounts					55
Notes Payable					600
Interest Payable					60
Deferred Revenue					200
TOTALS			3280		3280

Additional information:

1. Land includes land held a possible future plant site $175K and land for the current plant site $125K.

2. The notes receivable are due in 2023. The balance of $630 includes $30 of accrued interest. The next interest payment is due in July 2022.

3. Included in the investments are treasury bills of $80K that were purchased in November 2021 and mature in January, 2022; trading securities of $150 which are expected to be sold within the next year. The balance represents securities expected to be held longer than one year.

4. As of 12/31/21, Stockholders' equity has common stock, $2.00 par value, authorized 250K shares, and issued 150K shares at an average price of $4.50. The remaining balance in stockholders equity is retained earnings.

5. The note payable represents a 12% note, with interest paid annually February 28. The note matures in installments of $100 beginning 2/28/22.

6. Deferred revenue will be recognized equally over the next 18 months

Required:

Based on all of the information provided, answer the following questions as they would appear on a classified balance sheet for XYZ Corporation at December 31, 2021.

Select and copy the below sections a-l and answer in the space provided.

As of 12/31/21:

1. Net accounts receivable ________________________
2. Total current assets ________________________
3. Total Long term investment section ________________________
4. Total PP&E section ________________________
5. Total intangibles section ________________________
6. Total other assets section ________________________
7. Total Assets ________________________
8. Total Current Liabilities ________________________
9. Total Long-term Liabilities ________________________
10. Common Stock ________________________
11. Paid in capital in excess of par (APIC) ________________________
12. Retained earnings ________________________