The December 31, 2020, post-closing trial balance for Libby Corporation is presented below:

DEBITS CREDITS

Cash $ 22, 500

Retained Earnings $ 64,500

Investments (Long Term) $ 55,000

Accounts Receivable $ 30,000

Allowance for Uncollectible Accounts $ 7,500

Bonds Payable, due 2031 $ 120,000

Prepaid Insurance $ 4,500

Patents $ 5,000

Interest Payable $ 10,000

Accumulated Depreciation, Equipment $ 30,000

Inventory $ 100,000

Accounts Payable $ 37,500

Land $ 45,000

Common Stock $ 150,000

Buildings $ 140,000

Notes Payable, due 2021 $ 65,000

Equipment $ 132,500

Accumulated Depreciation, Building $ 50,000

__________ ___________

Totals $ 534,500 $ 534,500

Additional Notes:

1. Land was acquired as an investment. Not for operations.
2. Common Stock is no par, 20,000 shares Authorized, Issued, and Outstanding

Required: Prepare a CLASSIFIED BALANCE SHEET for Libby Corporation at December 31, 2021. Must be in good form with proper heading, proper classifications, and accurate assets, liabilities and shareholders equity