TB EX Qu. 3-242 The December 31, 2021, post-closing trial balance... The December 31, 2021, post-closing trial balance for Strong Corporation is presented below: Credit Accounts Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings Accumulated depreciation Accounts payable Notes payable, due 2022 Interest payable Notes payable, due 2031 Common stock Retained earnings Totals Debit $ 18,500 26,500 4,500 100,000 55,000 45,000 277,500 80,000 37,500 65,000 10,000 120,000 150,000 64,500 $527,000 $527,000 Prepare a classified balance sheet for Strong Corporation at December 31, 2021. (Amounts to be a minus sign.) Assets STRONG CORPORATION Balance Sheet As of December 31, 2021 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 37,500 Interest payable 10,000 Notes payable 65,000 Current assets: Prepaid insurance $ 4,500 Supplies Cash 100,000 18,500 Accounts receivable 26,500 Total current liabilities $ 112,500 (80,000) 120,000 Total current assets $ 149,500 Long-term liabilities: Depreciation expense Notes payable Total liabilities Stockholders' Equity: Common stock Retained earnings 152,500 Long-term assets: Land Buildings Repairs and maintenance expense 45,000 277,500 80,000 150,000 64,500 Total long-term assets 402.500 214,500 Total stockholders' equity Total liabilities and stockholders' equity Total assets 552,000 367.000