Qu Fi! On November 1, 2021, Middle East Company adopted a plan to discontinue its barge division, which qualifies as a separate component of the business according to GAAP regarding discontinued operations. The disposal of the division was expected to be concluded by April 30, 2022. On December 31, 2021, the company's year-end, the following information relative to the discontinued division was accumulated: Operating loss Jan. 1-Dec. 31, 2021 $ 66 million Estimated operating losses, Jan. 1 to April 30, 2022 88 million Excess of fair value, less costs to sell, over the book value at 25 million Dec. 31, 2021 In its income statement for the year ended December 31, 2021, Middle East Company would report a before-tax loss on discontinued operations of: et answered The December 11, 2021.post-chening trial balance ( sthanamh) Mitos Company la prestado dost of .00 question 17,500 75.000 50.000 10.00 9.000 200,000 65.000 240.000 70,000 162,500 50,000 Cash Investments (long-term) Accounts receivable Allowance for collectible accounts Prepaid insurance Inventory Land Building Accumulated depreciation - bilding Equipment Accumulated depreciation equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 36,000 shares authorized, issued, and outstanding Retained earnings Totals 9.500 47.300 85.000 20,000 220,000 288,000 52,500 243.500 843.500 Required: Prepare a classified balance sheet for Middle East Company at December 31, 2021. (8 Marks)