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Lockheed Martin Corporation has the following balances as of December 31, 2023: Cash: $850,000 Accounts Receivable: $1,500,000 Prepaid Insurance: $200,000 Equipment: $6,500,000 Accumulated Depreciation: $2,560,000
Lockheed Martin Corporation has the following balances as of December 31, 2023:
- Cash: $850,000
- Accounts Receivable: $1,500,000
- Prepaid Insurance: $200,000
- Equipment: $6,500,000
- Accumulated Depreciation: $2,560,000
- Accounts Payable: $1,600,000
- Salaries Payable: $260,000
- Common Stock: $2,600,000
- Retained Earnings: $1,568,000
Prepare a classified balance sheet for Lockheed Martin Corporation as of December 31, 2023.
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