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McK Nursery, Incorporated, reports the following account balances on December 31, 2024: cash, $21,000; accounts receivable, $16,000; inventory, $30,000; equipment (net), $77,500; operating leases,
McK Nursery, Incorporated, reports the following account balances on December 31, 2024: cash, $21,000; accounts receivable, $16,000; inventory, $30,000; equipment (net), $77,500; operating leases, $7,500; accounts payable, $19,000; salaries payable, $7,500; interest payable, $3,500; notes payable (due in 18 months), $35,000; common stock, $60,000. Required: Prepare a classified balance sheet for McK Nursery, Incorporated. McK NURSERY, Incorporated Balance Sheet At December 31, 2024 Current assets Total current assets Long-term assets: Assets Total assets $ 0 Liabilities and Stockholders' Equity Current liabilities: *** Total current assets Long-term assets: 0 Total assets $ 0 Liabilities and Stockholders' Equity Current liabilities: Total current liabilities Long-term liabilities: Total liabilities Stockholders' equity 0 0 Total stockholders' equity 0 Total liabilities and stockholders' equity $ 0
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