PLEASE USE THE BALANCE SHEET PROVIDED AS AN OUTLINE

The following is the ending balances of accounts at December $31,2024,$ for the Vosburgh Electronics Corporation. Additional information:

The receivables from employees are due on June $30,2025.$

The notes receivable are due in installments of $$50,000,$ payable on each September $30.$ Interest is payable annually.

Short$-$term investments consist of securities that the company plans to sell in $2025$ and $$50,000$ in treasury bills purchased on

December $15$ of the current year that mature on February $15,2025.$ Long$-$term investments consist of securities that the company

does not plan to sell in the next year.

Deferred revenue represents payments from customers for extended service contracts. Eighty percent of these contracts expire

in $2025,$ the remainder in $2026.$

Notes payable consists of two notes, one for $$100,000$ due on January $15,2026,$ and another for $$200,000$ due on June $30,$

Required:

Prepare a classified balance sheet for Vosburgh at December $31,2024.$

Note: Amounts to be deducted should be indicated by a minus sign.Long$-$term liabilities:

Shareholders' equity: