** Please, explain clearly how you calculate the "Allowance for uncollectible accounts" in the "Current assets" section, and the "Accumulated depreciation" in the "Property, plant, and equipment" section. Note: please don't explain that use the "Net accounts receivable" Minus "Accounts receivable" to get "Allowance for uncollectible accounts". Because "Net accounts receivable" only be calculated after you enter the value of "Accounts receivable" & "Allowance for uncollectible accounts". Also, "Net property, plant, and equipment" only be calculated after you enter the value of "Equipment" & "Accumulated depreciation". Thank you!

The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company. Credits $ Debits 75,000 170,000 290,000 158,000 330,000 $ 115,000 150,000 Account Title Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 65,000 25,000 85,000 35,000 225,000 21,000 405,000 197,000 $1,173,000 $1,173,000 Additional information: 1. Prepaid expenses include $130,000 paid on December 31, 2021, for a two-year lease on the building that houses both the administrative offices and the manufacturing facility. 2. Investments include $35,000 in Treasury bills purchased on November 30, 2021. The bills mature on January 30, 2022. The remaining $115,000 is an investment in equity securities that the company intends to sell in the next year. 3. Deferred revenue represents customer prepayments for magazine subscriptions. Subscriptions are for periods of one year or less. 4. The notes payable account consists of the following: a. a $45,000 note due in six months. b. a $105,000 note due in six years. c. a $75,000 note due in three annual installments of $25,000 each, with the next installment due August 31, 2022. 5. The common stock account represents 405,000 shares of no par value common stock issued and outstanding. The corporation has 810,000 shares authorized. Required: Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) WEISMULLER PUBLISHING COMPANY Balance Sheet At December 31, 2021 Assets $ Current assets: Cash and cash equivalents Investment in equity securities Accounts receivable Allowance for uncollectible accounts 110,000 115,000 170,000 170,000 Net accounts receivable Inventory Prepaid expenses Total current assets 395,000 Property, plant, and equipment: Equipment Accumulated depreciation Net property, plant, and equipment 0 Property, plant, and equipment: Equipment Accumulated depreciation Net property, plant, and equipment 0 Other assets: Prepaid expenses Total assets $ 395,000 Liabilities and Shareholders' Equity Current liabilities: Accounts receivable Interest payable Deferred revenue Income taxes payable Notes payable (current) Notes payable (current maturities of long-term debt) 0 Total current liabilities Long-term liabilities: Long-term liabilities: Notes payable (long-term) Total liabilities 0 Shareholders' equity: Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Oo $