Please help The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the companys controller As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2021 ($ in 000s) Assets Current assets Cash $ 1,750 Accounts receivable 4,500 Allowance for uncollectible accounts (900 ) Finished goods inventory 6,500 Prepaid expenses 1,700 Total current assets 13,550 Long term assets Investments 3,500 Raw materials and work in process inventory 2,750 Equipment 20,000 Accumulated depreciation (4,700 ) Patent (net) Total assets $ Liabilities and Shareholders Equity Current liabilities Accounts payable $ 5,700 Notes payable 5,000 Interest payable (on notes) 600 Deferred revenue 4,000 Total current liabilities 15,300 Long term liabilities Bonds payable 6,000 Interest payable (on bonds) 700 Shareholders equity Common stock $ Retained earnings Total liabilities and shareholders equity MORE INFORMATION NEEDED Certain records that included the account balances for the patent and shareholders equity items were lost However, the controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 1 1 That is, total liabilities are 110 of total shareholders equity Retained earnings at the beginning of the year was $5,000 Net income for 2021 was $1,800 and $700 in cash dividends were declared and paid to shareholders Management intends to sell the investments in the next six months Interest on both the notes and the bonds is payable annually The notes payable are due in annual installments of $1,250 each Deferred revenue will be recognized as revenue equally over the next two fiscal years The common stock represents 600,000 shares of no par stock authorized, 300,000 shares issued and outstanding Please Prepare a complete, corrected, classified balance sheet (Amounts to be deducted should be indicated by a minus sign )

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Please help!! The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the companys controller. As accounting manager for Sanderson, you are

Please help!!

The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the companys controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet.

SANDERSON MANUFACTURING COMPANY
Balance Sheet
At December 31, 2021
($ in 000s)

Assets
Current assets:
Cash	$	1,750
Accounts receivable		4,500
Allowance for uncollectible accounts		(900	)
Finished goods inventory		6,500
Prepaid expenses		1,700
Total current assets		13,550
Long-term assets:
Investments		3,500
Raw materials and work in process inventory		2,750
Equipment		20,000
Accumulated depreciation		(4,700	)

Patent (net)				?
Total assets			$	?

Liabilities and Shareholders Equity
Current liabilities:
Accounts payable	$	5,700
Notes payable		5,000
Interest payable (on notes)		600
Deferred revenue		4,000
Total current liabilities		15,300

Long-term liabilities:
Bonds payable				6,000
Interest payable (on bonds)				700

Shareholders equity:
Common stock	$	?
Retained earnings		?	?
Total liabilities and shareholders equity			?

MORE INFORMATION NEEDED:

Certain records that included the account balances for the patent and shareholders equity items were lost. However, the controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 1.1. That is, total liabilities are 110% of total shareholders equity. Retained earnings at the beginning of the year was $5,000. Net income for 2021 was $1,800 and $700 in cash dividends were declared and paid to shareholders.
Management intends to sell the investments in the next six months.
Interest on both the notes and the bonds is payable annually.
The notes payable are due in annual installments of $1,250 each.
Deferred revenue will be recognized as revenue equally over the next two fiscal years.
The common stock represents 600,000 shares of no par stock authorized, 300,000 shares issued and outstanding.

Please Prepare a complete, corrected, classified balance sheet. (Amounts to be deducted should be indicated by a minus sign.)