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The December 31, 2024, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Debits Credits Cash 31,000 Long-term investments 72,000 Accounts receivable

The December 31, 2024, post-closing trial balance ($ in thousands) for Libby Corporation is presented below:

Debits

Credits

Cash

31,000

Long-term investments

72,000

Accounts receivable

47,000

Allowance for uncollectible accounts

9,000

Prepaid insurance

7,500

Inventory

185,000

Land

62,000

Buildings

225,000

Accumulated depreciationbuildings

67,000

Equipment

158,000

Accumulated depreciationequipment

47,000

Patents (unamortized balance)

8,000

Accounts payable

46,000

Notes payable, due 2025

82,000

Interest payable

18,500

Bonds payable, due 2041

205,000

Common stock (no par), 30,000 shares

authorized, issued, and outstanding

240,000

Retained earnings

81,000

Totals

795,500

795,500

Required:

Prepare a classified balance sheet for Libby Corporation on December 31, 2024.

Note: 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.

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