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The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting
The following incomplete balance sheet for the Sanderson Manufacturing Company was prepared by the company's controller. As accounting manager for Sanderson, you are attempting to reconstruct and revise the balance sheet. SANDERSON MANUFACTURING COMPANY Balance Sheet At December 31, 2021 ($ in 000s) Assets Current assets: Cash Accounts receivable Allowance for uncollectible accounts Finished goods inventory Prepaid expenses Total current assets. Long-term assets: Investments Equipment Accumulated depreciation Raw materials and work in process inventory Patent (net) $1,250 3,500 (400) 6,000 1,200 11,550 3,000 2,250 15,000 (4,200) P Total assets ? Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 5,200 Notes payable 4,000 100 Interest payable (on notes) Deferred revenue Total current liabilities Long-term liabilities: Bonds payable 3,000 112,300 5,500 200 Interest payable (on bonds) Shareholders' equity: Common stock Retained earnings ? ? Total liabilities and shareholders' equity ? Additional information ($ in 000s): 1 Certain records that included the account halances for the natent and charahnidiare' anuity items were Inet However the controller
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