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The December 31, 2018, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Cash 26,500 Investments (long-term) 63,000 Accounts receivable 38,000 Allowance
The December 31, 2018, post-closing trial balance ($ in thousands) for Libby Corporation is presented below:
Cash | 26,500 | ||
Investments (long-term) | 63,000 | ||
Accounts receivable | 38,000 | ||
Allowance for uncollectible accounts | 7,500 | ||
Prepaid insurance | 3,000 | ||
Inventories | 140,000 | ||
Land | 53,000 | ||
Buildings | 180,000 | ||
Accumulated depreciationbuildings | 58,000 | ||
Equipment | 144,500 | ||
Accumulated depreciationequipment | 38,000 | ||
Patents (unamortized balance) | 9,000 | ||
Accounts payable | 41,500 | ||
Notes payable, due 2019 | 73,000 | ||
Interest payable | 14,000 | ||
Bonds payable, due 2028 | 160,000 | ||
Common stock, no par, 29,000 shares authorized, issued, and outstanding | 203,000 | ||
Retained earnings | 62,000 | ||
Totals | 657,000 | 657,000 | |
Prepare a classified balance sheet for Libby Corporation at December 31, 2018. (Enter your answers in the order of their liquidity. Negative amounts should be entered by a minus sign. Enter your answers in thousands of dollars.)
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