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Selected accounts from Gregor Company's adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the company's balance
Selected accounts from Gregor Company's adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the company's balance sheet, accumulated depreciation is subtracted from equipment, accumulated amortization is subtracted from patents, and accumulated depletion is subtracted from silver mine. Common stock Retained earnings Patents Cash $ 10,000 48,000 5,600 6,800 Accounts payable Accumulated depreciation-Equipment Notes payable (due in 9 years) Goodwill Land Equipment Silver mine 38,000 Accumulated depletion-Silver mine 28,000 Accumulated amortization-Patents 23,000 $ 2,800 20,200 19,000 5,800 4,600 2,600 Current assets Cash Plant assets Total plant assets Intangible assets Total intangible assets Total assets Assets $ FA 0 Current liabilities Liabilities Long-term liabilities Total liabilities Total equity Total liabilities and equity 0 Equity 0 $ 0
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