prepare a classified balance sheet for Liberty Corp. at december 31, 2015

(debit)

cash 18,500

long term investments 55,000

accounts receivable 26,500

prepaid insurance 4,500

supplies 10,000

land 45,000

buildings 367,500

(credit)

accumulated depreciation 80,000

accounts payable 37,500

notes payable due 2016 65,000

interest payable 10,000

notes payable due 2025 120,000

common stock 100,000

(also the question is asking for the amount of retained earnings for the debit side) on the credit side, the retained earnings is 114,500. the totals for each both add up to 527,000