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Problem 3-4 (AGO) Dalance sheet preparauon [LUS-2, S- The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishin Credits

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Problem 3-4 (AGO) Dalance sheet preparauon [LUS-2, S- The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishin Credits $ Debits 83,000 178,000 294,000 166,000 338,000 $ 119,000 158,000 Account Title Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 69,000 29,000 89,000 39,000 245,000 25, eee 409,000 193,000 $1,217,000 $1,217,600 Additional information: 1. Prepaid expenses include $138,000 paid on December 31, 2021, for a two-year lease on the b administrative offices and the manufacturing facility. 2. Investments include $39,000 in Treasury bills purchased on November 30, 2021. The bills ma remaining $119,000 is an investment in equity securities that the company intends to sell in th 3. Deferred revenue represents customer prepayments for magazine subscriptions. Subscription 4. The notes payable account consists of the following: a. a $49.000 note due in six months. b. a $130,000 note due in six years. c. a $66,000 note due in three annual installments of $22,000 each, with the next installme 5. The common stock account represents 409,000 shares of no par value common stock issue 818,000 shares authorized. Required: Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31, 2 e indicated by a minus sign.)

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