The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the companys controller As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2018 ($ in 000s) Assets Current assets Cash $ 1,350 Accounts receivable 3,700 Allowance for uncollectible accounts (500 ) Finished goods inventory 6,100 Prepaid expenses 1,300 Total current assets 11,950 Long term assets Investments 3,100 Raw materials and work in process inventory 2,350 Equipment 16,000 Accumulated depreciationequipment (4,300 ) Patent Total assets $ Liabilities and Shareholders Equity Current liabilities Accounts payable $ 5,300 Note payable 4,200 Interest payablenote 200 Deferred revenue 3,200 Total current liabilities 12,900 Long term liabilities Bonds payable 5,600 Interest payablebonds 400 Shareholders equity Common stock $ Retained earnings Total liabilities and shareholders equity Additional information ($ in 000s) Certain records that included the account balances for the patent and shareholders equity items were lost However, the controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 1 2 That is, total liabilities are 120 of total shareholders equity Retained earnings at the beginning of the year was $4,200 Net income for 2018 was $1,350 and $800 in cash dividends were declared and paid to shareholders Management intends to sell the investments in the next six months Interest on both the note and the bonds is payable annually The note payable is due in annual installments of $1,050 each Deferred revenue will be recognized as revenue equally over the next two fiscal years The common stock represents 500,000 shares of no par stock authorized, 260,000 shares issued and outstanding Required Prepare a complete, corrected, classified balance sheet (Amounts to be deducted should be indicated by a minus sign )

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The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the companys controller. As accounting manager for Sanderson, you are attempting to

The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the companys controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet.

SANDERSON MANUFACTURING COMPANY
Balance Sheet
At December 31, 2018
($ in 000s)
Assets
Current assets:
Cash			$	1,350
Accounts receivable				3,700
Allowance for uncollectible accounts				(500	)
Finished goods inventory				6,100
Prepaid expenses				1,300
Total current assets				11,950
Long-term assets:
Investments				3,100
Raw materials and work in process inventory				2,350
Equipment				16,000
Accumulated depreciationequipment				(4,300	)
Patent				?
Total assets			$	?
Liabilities and Shareholders Equity
Current liabilities:
Accounts payable			$	5,300
Note payable				4,200
Interest payablenote				200
Deferred revenue				3,200
Total current liabilities				12,900
Long-term liabilities:
Bonds payable				5,600
Interest payablebonds				400
Shareholders equity:
Common stock	$	?
Retained earnings		?		?
Total liabilities and shareholders equity				?

Additional information ($ in 000s):

Certain records that included the account balances for the patent and shareholders equity items were lost. However, the controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity ratio of 1.2. That is, total liabilities are 120% of total shareholders equity. Retained earnings at the beginning of the year was $4,200. Net income for 2018 was $1,350 and $800 in cash dividends were declared and paid to shareholders.
Management intends to sell the investments in the next six months.
Interest on both the note and the bonds is payable annually.
The note payable is due in annual installments of $1,050 each.
Deferred revenue will be recognized as revenue equally over the next two fiscal years.
The common stock represents 500,000 shares of no par stock authorized, 260,000 shares issued and outstanding.

Required: Prepare a complete, corrected, classified balance sheet. (Amounts to be deducted should be indicated by a minus sign.)