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Q21 The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Debits Credits Cash 22,500 Investments (long-term) 55,000 Accounts

Q21 The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below:

Debits Credits
Cash 22,500
Investments (long-term) 55,000
Accounts receivable 30,000
Allowance for uncollectible accounts 7,500
Prepaid insurance 4,500
Inventory 100,000
Land 45,000
Buildings 140,000
Accumulated depreciationbuildings 50,000
Equipment 132,500
Accumulated depreciationequipment 30,000
Patents (unamortized balance) 5,000
Accounts payable 37,500
Notes payable, due 2022 65,000
Interest payable 10,000
Bonds payable, due 2031 120,000
Common stock (no par), 20,000 shares authorized, issued, and outstanding 150,000
Retained earnings 64,500
Totals 534,500 534,500

Required: Prepare a classified balance sheet for Libby Corporation at December 31, 2021. (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.)

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LIBBY CORPORATION Balance Sheet At December 31, 2021 (S in thousands) Assets Total current assets Property, plant, and equipment Net book value of building Net book balue of equipment Net Property, plant, and equipment Intangibles: Total assets Liabilities and Shareholders' Equity Current liabilities Total current liabilities Long-term liabilities Total liabilities Shareholders' equity Total shareholder's equity Total liabilities and shareholders' equity $ 0

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