Problem 1 The December 31, 20X5, post-closing trial balance (in S thousands) for Belcher C 0, is presented below: Debits Credits Cash Investments Accounts receivable Allowance 22,500 55,000 30,000 for uncollectible accounts 7,500 4,500 100,000 Prepaid insurance Inventories Land Buildings Accumulated 45,000 140,000 depreciation buildings 50,000 132,500 Equipment Accumulated depreciation equipment 30,000 Patents (unamortized balance) Accounts payable Notes 5,000 37,500 payable, due 20X7 65,000 Interest payable 20,000 150,000 10,000 Bonds payable, due 20X9 Common stock Retained earnings 64.500 Totals 534.500 534.500 Required: Prepare a classified balance sheet for Belcher Co. at December 31, 20X5