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Prepare a classified balance sheet 4.400 31.250 252.600 25,500 4,020 725 3.600 2.500 130.000 348,000 36,780 15.000 135.400 245.520 13,500 6,000 10,000 25,000 28.465 28.000

Prepare a classified balance sheet
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4.400 31.250 252.600 25,500 4,020 725 3.600 2.500 130.000 348,000 36,780 15.000 135.400 245.520 13,500 6,000 10,000 25,000 28.465 28.000 18.500 19.300 1.200 Accounts payable Accounts receivable Accumulated depreciation - building Accumulated depreciation-store equipment Allowance for bad debts Amortization expense Bad debt expense Bank overdraft Bonds payable Building Cash Cash surrender value of life insurance Kale 3 Common stock, S2 par Cost of goods sold Depreciation expense building Depreciation expense - store equipment Discount on bonds payable Dividends Gain on disposition of plant asset Goodwill Note 2 Income from Water Division (discontinued) Now Income tax expense (for income from continuing operations) Insurance expense Interest expense Interest payable Land Land held for future use Note 2 Loss on disposal of Water Division Merchandise inventory Notes payable, due June 15, 2019 Notes payable, due May 20, 2020 Office rent expense Paid in capital in excess of par, common stock Patent Prepaid insurance Rent revenue Retained eamings, January 1, 2018 Sales discounts Sales revenue Store equipment Supplies Supplies Expense Uneamed revenue Utilities expense Wages & salaries expense -office Wages & salaries expense - selling 1.100 200 000 14,050 6.200 16.800 10.000 25.000 6,400 40.600 7.600 800 12.610 49.600 12.140 395,000 162.500 600 IS.000 2,200 30.000 44.800 Notes: 1. This account represents the income tax expense for continuing operations, 2. The company disposed of their flavored water division this vear The account balances above are shown net of the applicable income tax: Income tax expense applicae io Water Division income: 55.750 Income tax expense aplice to Water Division denial S/ 180 3. All stock is both issued and outstanding. 4. Expenses related to the store and to selling are listed as selling expenses. (Most of the expenses are administrative.)

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