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The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 25,200 55,000 30,000 7,500 4,500 100,000 45,000
The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Credits Debits 25,200 55,000 30,000 7,500 4,500 100,000 45,000 130,000 50,000 Cash Investments (long-term) Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventories Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2022 Interest payable Bonds payable, due 2028 Common stock, no par, 20,000 shares authorized, issued, and outstanding Retained earnings Totals 132,500 30,000 5,000 40,200 65,000 10,000 110,000 150,000 64,500 537,200 537,200 Required: Prepare a classified balance sheet in good form for Libby Corporation at December 31, 2021
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