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The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Debits Cash Credits Investments (long-term) 24,000 Accounts receivable 58,000
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Debits Cash Credits Investments (long-term) 24,000 Accounts receivable 58,000 Allowance for uncollectible accounts 33,000 Prepaid insurance. 9,000 6,000 Inventory Land 115,000 48,000 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2031 Common stock (no par), 25,000 shares authorized, issued, and outstanding Retained earnings 155,000 53,000 137,000 33,000 6,500 39,000 68,000 11,500 135,000 187,500 Totals 46,500 582,500 582,500 Required: 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 assots Property, plant, and equipment 0 0
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