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Problem 3-97 The December 31, 2018, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 23,500 57,000 32,000 8,500 5,500
Problem 3-97 The December 31, 2018, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 23,500 57,000 32,000 8,500 5,500 110,000 47,000 150,000 52,000 Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventories Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2019 Interest payable Bonds payable, due 2028 Connon stock, no par, 24,000 shares authorized, issued, and outstanding Retained earnings Totals 135,500 6,000 32,000 38,500 67,000 11,000 130,000 180,000 47,500 566,500 566,500 Required: Prepare a classified balance sheet for Libby Corporation at December 31, 2018. (Enter your answers in the order of their liquidity, Negative amounts should be entered by a minus sign. Enter your answers in thousands of dollars.) LIBBY CORPORATION Balance Sheet At December 31, 2018 (5 in thousands)
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