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Preparation of Balance Sheet Conlon Corporation's December 31 post-closing trial balance contains the following normal account balances: Cash $2,200 Accounts payable 14,300 Building 308,000 Long-term

Preparation of Balance Sheet

Conlon Corporation's December 31 post-closing trial balance contains the following normal account balances:

Cash $2,200
Accounts payable 14,300
Building 308,000
Long-term notes payable 1,045,000
Common stock 440,000
Retained earnings 388,300
Accumulated depreciation-Equipment 143,000
Land 1,240,800
Accounts receivable 23,100
Accumulated depreciation-Building 77,000
Interest payable 26,400
Patent (net of amortization) 55,000
Notes payable (short term) 88,000
Inventory 150,700
Equipment 292,600
Allowance for doubtful accounts 1,100
Accumulated depreciation-Leasehold improvements 24,200
Leasehold improvements 154,000
Trademark (net of amortization) 20,900

Required

Prepare a December 31 classified balance sheet for Conlon Corporation.

Do not use negative signs with any of your answers.

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