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The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Debits Credits Cash 32,000 Investments (long-term) 74,000 Accounts receivable
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Debits Credits Cash 32,000 Investments (long-term) 74,000 Accounts receivable 49,000 Allowance for uncollectible accounts 10,000 Prepaid insurance 8,500 Inventory 195,000 Land 64,000 Buildings 235,000 Accumulated depreciation-buildings 69,000 Equipment 161,000 Bonds payable, due 2031 Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Common stock (no par), 34,000 shares authorized, issued, and outstanding Retained earnings 49,000 9,000 47,000 84,000 19,500 215,000 272,000 62,000 Totals 827,500 827,500 Required: Prepare a classified balance sheet for Libby Corporation at December 31, 2021. (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.) LIBBY CORPORATION Balance Sheet At December 31, 2021 ($ in thousands) Assets Total current assets Property, plant, and equipment - Net book value of building Net book balue of equipment Net Property, plant, and equipment 0 0 0 0 < Prev 12 of 15 Next > Net book value of building Net book balue of equipment Net Property, plant, and equipment 0 0 0 Total assets $ 0 Liabilities and Shareholders' Equity Current liabilities Total current liabilities Long-term liabilities Total liabilities Shareholders' equity Total shareholder's equity Total liabilities and shareholders' equity + S 0 0 0 0
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