Problem 3-4 Balance sheet preparation [LO3-2, 3-3] The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company. Prepare a classified balance sheet for the Weismuller Publishing Company at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign)

Problem 3-4 Balance sheet preparation [LO3-2, 3-3 The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company Account Title Cash Accounts receivable Inventories Prepaid expenses Machinery and equipment Accumulated depreciation-equipment Investments Accounts payable Interest payable Deferred revenue Taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits 93,808 188,000 299,000 176,000 348,086 124,800 168,000 74,000 34,880 94,900 44,008 270,000 30,000 414,000 188,000 1,272,800 1,272,880 Additional information: 1. Prepaid expenses include $148,000 paid on December 31, 2018, for a two-year lease on the building that houses both the administrative offices and the manufacturing facility 2. Investments include $44,000 in Treasury bills purchased on November 30, 2018. The bills mature on January 30, 2019. The remaining $124,000 includes investments in marketable equity securities that the company intends to sell in the next year. 3. Deferred revenue represents customer prepayments for magazine subscriptions. Sbscriptions are for periods of one year or less. 4. The notes payable account consists of the following: Check my w 4. The notes payable account consists of the following: a. a $54,000 note due in six months. b, a $135,000 note due in six years. C, a $81,000 note due in three annual installments of $27,000 each, with the next installment due August 31, 2019. 5. The common stock account represents 414,000 shares of no par value common stock issued and outstanding. The corporation has 900,000 shares authorized. Required: Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) WEISMULLER PUBLISHING COMPANY Balance Sheet At December 31, 2018 Assets Current assets S 137,000 Cash and cash equivalents Accounts receivable, net of allowance Prepaid expenses 124,000 Short-term investments 261,000 Total current assets Property, plant, and equipment Machinery and equipment Accumulated depreciation Other assets Saved Help Save Machinery and equipment Accumulated depreciation Other assets Total assets S 261,000 Liabilities and Shareholders' Equity Current liabilities Accounts payable Interest payable Deferred revenue Taxes payable Notes payable Current maturities of long-term debt fr Total current liabilities Long-term liabilities Notes payable Total liabilities Shareholders' equity Common stock Retained earnings Total shareholders' equity Total liabilities and shareholders' equity