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please complete!will upvote Prepare an unclassified balance sheet as it would appear at December 31, 2025. (List Assets in order of liquidity. Enter account name
please complete!will upvote
Prepare an unclassified balance sheet as it would appear at December 31, 2025. (List Assets in order of liquidity. Enter account name only and do not provide the descriptive information provided in the question.) Novak Inc. had the following balance sheet at December 31, 2024. During 2025 , the following occurred. 1. Novak Inc. sold part of its debt investment portfolio for $19,229. This transaction resulted in a gain of $7,629 for the firm. The company classifies these investments as available-for-sale. 2. A tract of land was purchased for $18,350 cash. 3. Long-term notes payable in the amount of $20,229 were retired before maturity by paying $20,229 cash. 4. An additional $24,229 in common stock was issued at par. 5. Dividends of $12,429 were declared and paid to stockholders. 6. Net income for 2025 was $37,350 after allowing for depreciation of $15,229. 7. Land was purchased through the issuance of $40,350 in bonds. 8. At December 31, 2025, Cash was $42,350, Accounts Receivable was $46,950, and Accounts Payable remained at $35,350 Step by Step Solution
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