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 COMPANYBalance SheetAt December 31, 2021($ in 000s)AssetsCurrent assets:Cash$1,750Accounts receivable4,500Allowance for uncollectible accounts(900)Finished goods inventory6,500Prepaid expenses1,700Total current assets13,550Long-term assets:Investments3,500Raw materials and work in process inventory2,750Equipment20,000Accumulated depreciation(4,700)Patent (net)?Total assets$?Liabilities and Shareholders' EquityCurrent liabilities:Accounts payable$5,700Notes payable5,000Interest payable (on notes)600Deferred revenue4,000Total current liabilities15,300Long-term liabilities:Bonds payable6,000Interest payable (on bonds)700Shareholders' equity:Common stock$?Retained earnings??Total liabilities and shareholders' equity?

Additional information ($ in 000s):

1. 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 1.1. That is, total liabilities are 110% of total shareholders' equity. Retained earnings at the beginning of the year was $5,000. Net income for 2021 was $1,800 and $700 in cash dividends were declared and paid to shareholders.
2. Management intends to sell the investments in the next six months.
3. Interest on both the notes and the bonds is payable annually.
4. The notes payable are due in annual installments of $1,250 each.
5. Deferred revenue will be recognized as revenue equally over the next two fiscal years.
6. The common stock represents 600,000 shares of no par stock authorized, 300,000 shares issued and outstanding.

Required:

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