Return to questlon The following is the ending balances of accounts at December 31, 2018 for the Weismuller Publishing Company. Debits Credits Account Title Cash 79,000 174,000 292,000 162,000 334,000 points Accounts receivable Inventories Prepaid expenses Machinery and equipment Accumulated depreciation-equipment 117,000 154,000 Investments Accounts payable 67,000 27,000 87,000 37,000 235,000 23,000 407,000 195.000 Interest payable Deferred revenue Taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings 1,195,000 1,195,000 Totals Additional information: 1 Prepaid expenses include $134,000 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 $37,000 in Treasury bills purchased on November 30, 2018. The bills mature on January 30, 2019. The remaining $117,000 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. Subscriptions are for periods of one year or less. 4. The notes payable account consists of the following: a. a $47,000 note due in six months. b. a $128,000 note due in six years. c. a $60,000 note due in three annual installments of $20,000 each, with the next installment due August 31, 2019. 5. The common stock account represents 407,000 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.) 00 CO WEISMULLER PUBLISHING COMPANY Balance Sheet At December 31, 2018 Assets Current assets 79.000 x Cash and cash equivalents Marketable securities 117,000 293,000 X Inventories 37,000 x Short-term investments Accounts payable Total current assets 526,000 Property. plant, and equipment Other assets S 526.000 Total assets Liabilities and Shareholders' Equity Current liabilities Total current liabilities 0 Total liabilities 0 Shareholders' equity 0 Total liabilities and shareholders' equity C X