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Required: Prepare a classified statement of financial position for Libby Company at December 31, 2020.

Ch-2- Assignment 1 Dchii Credits Cash Investments 55.000 Accounts receivable Allowance for collectible accounts 7.500 Prepaid insurance 4.500 Inventories 100.000 Land 45,000 Buildim 140,000 Accumulated depreciation buildings 50,000 Equipment Accumulated depreciation equipment 30,000 Patents (unamortized balance) 5.000 Accounts payable Notes payable, due 2021 65.000 Interest payable 10,000 Bonds payable, doe 2033 120.000 Ordinary share capital, no par. 20,000 shares authorired, issued and outstanding 150,000 Retained emings 64 50 Totals 534.500 53.00 Q.1 The December 31, 2020, post-closing trial balance ( in thousands) for Libby Company is presented below: Required: Prepare a classified statement of financial position for Libby Company at December 31, 2020