Presented below is the trial balance of Lakeside Corporation at December 31, 20X1.

DebitsCredits

Cash$ 98,500

Trading Securities (at cost, $145,000)76,500

Long-term Investments in Bonds149,500

Long-term Investments in Stocks138,500

Short-term Notes Payable45,000

Accounts Payable 227,500

Land130,000

Buildings520,000

Dividends Payable68,000

Accrued Liabilities48,000

Accounts Receivable217,500

Accumulated DepreciationBuildings76,000

Allowance for Doubtful Accounts12,500

Inventories298,500

Long-term Notes Payable450,000

Equipment300,000

Bonds Payable500,000

Accumulated DepreciationEquipment30,000

Franchise (net of $80,000 amortization)80,000

Common Stock ($5 par)500,000

Treasury Stock95,500

Patent (net of $30,000 amortization)97,500

Retained Earnings205,000

Additional Paid-in Capital40,000

Totals$2,202,000$2,202,000

Instructions:

Identify and total all the accounts for each of the following balance sheet classifications:

1. Current assets

2. Long-term investments

3. Property, Plant & Equipment

4. Intangible assets

5. Current liabilities

6. Long-term liabilities

7. Stockholders' Equity