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Prepare a classified balance sheet as of December 3 1 , 2 0 2 5 . E 4 . 1 2 ( LO 1 )

Prepare a classified balance sheet as of December 31,2025.
E4.12(LO 1)(Preparation of a Balance Sheet) Presented below is the trial balance of Scott Butler Corporation at December 31,2025.
Debit
Credit
Cash
$ 197,000
Sales Revenue
$ 8,100,000
Debt Investments (trading)(at cost, $145,000)
153,000
Cost of Goods Sold
4,800,000
Debt Investments (long-term)
299,000
Equity Investments (long-term)
277,000
Notes Payable (short-term)
90,000
Accounts Payable
455,000
Selling Expenses
2,000,000
Investment Revenue
63,000
Land
260,000
Buildings
1,040,000
Dividends Payable
136,000
Accrued Liabilities
96,000
Accounts Receivable
435,000
Accumulated DepreciationBuildings
152,000
Allowance for Doubtful Accounts
25,000
Administrative Expenses
900,000
Interest Expense
211,000
Inventory
597,000
Gain
80,000
Notes Payable (long-term)
900,000
Equipment
600,000
Bonds Payable
1,000,000
Accumulated DepreciationEquipment
60,000
Franchises
160,000
Common Stock ($5 par)
1,000,000
Treasury Stock
191,000
Patents
195,000
Retained Earnings
78,000
Paid-in Capital in Excess of Par
80,000
Totals
$12,315,000
$12,315,000

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