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The December 31, 2021, post-closing trial balance for Strong Corporation is presented below: CE Credit Debit $ 18,500 26,500 4,500 100,000 55,000 45,000 277,500 Accounts
The December 31, 2021, post-closing trial balance for Strong Corporation is presented below: CE Credit Debit $ 18,500 26,500 4,500 100,000 55,000 45,000 277,500 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 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 deducted should be indicated with a minus sign.) STRONG CORPORATION Balance Sheet As of December 31, 2021 Assets Liabilities and Stockholders' Equity Current assets: Current liabilities: Total current liabilities Long-term liabilities: 0 Total current assets Long-term assets: Total liabilities Stockholders' Equity: Total long-term assets Total assets 0 0 Total stockholders' equity Total liabilities and stockholders' equity | $ $ 0
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