Saved signment 3 - Chapter 3 As controller for Henderson, you are attempting to reconstruct and revise the following balance sheet prepa $ 1,350 3,850 (700) 5,100 3,500 13,100 Henderson Manufacturing Company Balance Sheet At December 31, 2021 ($ in 000s) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods Inventory Prepaid expenses Total current assets Long-term assets: Investments Raw materials and work in process inventory Equipment Accumulated depreciation equipment Franchise Total assets Liabilities and shareholders' Equity Current liabilities: Accounts payable Notes payable Interest payable-note Deferred revenue Total current liabilities Long-term liabilities: Bonds payable Interest payable-bonds Shareholders' equity: Common stock Retained earnings Total liabilities and shareholders' equity 3,100 4,000 20,000 (9,100) 7 $ 2 $ 7,300 9,000 600 2,100 19,000 8,000 200 $ 2 2 ? 7 Additional information ($ in 000s); 1. Certain records that included the account balances for the franchise and shareholders' equity items were lost. However, a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 1.7. That is, total liabilities are 170% of total shareholders' equity. Retained earnings at the beginning of the year was $3,300. Net income for 2021 was $2,400, and $1,100 in cash dividends were declared and paid to shareholders. 2. The Investments represent treasury bills purchased in December 2021.that mature in January 2022. These are considered cash equivalents. 3. Interest on both the notes and the bonds is payable annually. 4. The notes payable account contains one note that is due in annual installments of $900 for each payment due. 5. Deferred revenue will be recognized equally over the next 18 months. 6. The common stock represents 500,000 shares of no par stock authorized, of which 300,000 shares are issued and outstanding, Required: Prepare a complete, corrected, classified balance sheet. (Do not round your intermediate calculations. Enter your answers in the order of their liquidity. Amounts to be deducted should be indicated by a minus sign. Enter your answers in thousands of dollars Henderson Manufacturing Company Balance Sheet At December 31, 2021 (5 in 000) Assets Current assets Henderson Manufacturing Company Balance Sheet At December 31, 2021 Y$ in 000s) Assets Current assets: Inventory 0 Total current assets 0 + Property, plant, and equipment: 0 Net property, plant, and equipment Intangibles: $ GA Total assets Liabilities and Shareholders' Equity Current liabilities: Total assets 0 Liabilities and Shareholders' Equity Current liabilities: Total current liabilities Long-term liabilities: 0 0 Total liabilities Shareholders' equity: 0 Total shareholders' equity Total liabilities and shareholders' equity 0 $ 0
