Prepare a classified balance sheet as of December 31, 2017 E5-12 (L03) (Preparation of a Balance Sheet) Presented below is the trial balance of Scott Butler Corporation at December 31, 2017. Credit Debit $ 197,000 $ 8,100,000 153,000 4,800,000 299,000 277,000 I 90,000 455,000 2,000,000 63,000 260,000 1,040,000 136,000 96,000 435,000 Cash Sales Revenue Debt Investments (trading) (at cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation--Equipment Franchises Common Stock (55 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals 152,000 25,000 900,000 211,000 597,000 80,000 900,000 600,000 1,000,000 60,000 160,000 1,000,000 191,000 195,000 78,000 80,000 $12,315,000 $12,315,000 Prepare a classified balance sheet in good form. (No monetary amounts are to be shown.) P5-2 (L03) EXCEL (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2017 Goodwill $ 125,000 Accumulated depreciation-equipment $ 292,000 Payroll taxes payable 177,591 Inventory 239,800 Bonds payable 300,000 Rent payable (short-term) 45,000 Discount on bonds payable 15,000 Income taxes payable 98,362 Cash 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock, 51 par value 200,000 Notes receivable 445,700 Preferred stock, $10 par value 150,000 Notes payable (to banks) 265,000 Prepaid expenses 87,920 Accounts payable 490,000 Equipment 1.470,000 Retained earnings ? Debt investments (trading) 121,000 Income taxes receivable 97,630 Accumulated depreciation buildings 270,200 Notes payable (long-term) 1,600,000 Buildings 1,640,000