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The December 31, 2021, post-closing trial balance for Orange Designs is presented below: Credit Accounts Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings
The December 31, 2021, post-closing trial balance for Orange Designs is presented below: Credit Accounts Cash Accounts receivable Prepaid insurance Supplies Long-Term Investments Land Buildings Accumulated depreciation Accounts payable Notes payable, due 2025 Interest payable Notes payable, due 2031 Common tock Retained earnings Totals Debit $ 23,300 22,800 4,600 160,000 54,000 46,000 273,000 84,000 37,300 61,000 12,000 126,000 210,000 53,400 $583,700 $583,700 Prepare a classified balance sheet for Orange Designs at December 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) ORANGE DESIGNS Balance Sheet As of December 31, 2021 Assets Liabilities and Stockholders' Equity Current Assets: Current liabilities: Total current liabilities $ 0 Long-term liabilities: Total current assets $ 0 Long-term assets: Total liabilities 0 Stockholders' Equity: 0 0 Total long-term assets Total assets Total stockholders' equity Total liabilities and stockholders' equity $ 0 $ 0
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