Presented below is the balance sheet of C. Francis Henry, Inc. for 12/31/21:

C. Francis Henry, Inc.

Balance Sheet

December 31, 2021

Current Assets	$ 410,000		Current Liabilities	$654,000
Investments	886,000		Long-Term Liabilities	1,200,000
Property, Plant & Equipment	1,940,000		Stockholders Equity	1,742,000
Intangible Assets	360,000
Total Assets	$ 3,596,000		Total Liabilities + SHE	$3,596,000

The following additional information is presented:

1. The current assets section includes: cash $82,000, accounts receivable $180,000 less $20,000 for Allowance for Doubtful Accounts, inventories $134,000, prepaid expenses of 44,000 and deferred revenue $10,000. Inventories are stated at lower of cost or market.
2. The investments section includes: furniture and equipment $286,000 ($326,000 cost and $40,000 accumulated depreciation); investments in common stock, short-term (trading) $100,000 and long-term (available for sale) $250,000, and cash restricted as bond sinking fund $250,000. The cost and fair value of investments in common stock are the same.
3. Property, plant and equipment includes: land $500,000 used in operations; buildings $1,210,000; and land held for speculative purposes $230,000.
4. Intangible assets include: a franchise $130,000; goodwill $180,000; and treasury stock, 50,000.
5. Current liabilities include: accounts payable $164,000; notes payable short term $80,000 and long-term $110,000; taxes payable $40,000 and accumulated depreciation on buildings $260,000.
6. Long-term liabilities are composed of 10% bonds payable due 2026, $800,000; and mortgage payable $400,000.
7. Stockholders equity has common stock, $2 par value, 500,000 shares authorized, 150,000 shares issued at average price of $10; accumulated comprehensive loss of $58,000; and retained earnings of $300,000.

REQUIRED:

Prepare the classified balance sheet of C. Francis Henry, Inc. at 12/31/21.

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