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please show work The December 31, 2020.post-closing trial balance for Libby Corporation is presented below: DEBITS CRE DITS Cash $ 22,500 Retained Earnings 64,500 Investments
please show work The December 31, 2020.post-closing trial balance for Libby Corporation is presented below: DEBITS CRE DITS Cash $ 22,500 Retained Earnings 64,500 Investments (Long Term) $ 55,000 Accounts Receivable $ 30,000 Allowance for Uncollectible Accounts $ 7,500 Bonds Payable, due 2031 120,000 Prepaid Insurance $4,500 Patents $5,000 Interest Payable 10,000 Accumulated Depreciation, Equipment $ 30,000 Inventory $ 100,000 Accounts Payable 37,500 Land $ 45,000 Common Stock 150,000 Buildings $ 140,000 Notes Payable, due 2021 65,000 Equipment $ 132,500 Accumulated Depreciation, Building $ 50,000 s $ 534,500 Totals 534,500 Additional Notes: 1) Land was acquired as an investment. Not for operations. 2) Common Stock is no par, 20,000 shares Authorized, Issued, and Outstanding Required: Prepare a CLASSIFIED BALANCE SHEET for Libby Corporation at December 31, 2021. Must be in good form with proper heading proper classifications, and accurate assets, liabilities and shareholder's equity. I suggest utilizing Excel for the preparation of the Balance Sheet
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