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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 to

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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 to reconstruct and revise the balance sheet. Total current assets Property, plant, and equipment: Net property, plant, and equipment Intangible assets 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 1.2. That is, total liabilities are 120% of total shareholders' equity. Retained earnings at the beginning of the year was $4,000. Net income for 2024 was $1,560, and $560 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 $1,000 each. 5. Deferred revenue will be recognized as revenue equally over the next two fiscal years. 6 . The common stock represents 400,000 shares of no par stock authorized, 250,000 shares issued and outstanding. Required: Prepare a complete, corrected, classified balance sheet. \begin{tabular}{|l|l|l|} \hline & & \\ \hline & & \\ \hline & & \\ \hline Total current liabilities & & \\ \hline Long-term liabilities: & & \\ \hline & & \\ \hline & & \\ \hline Total long-term liabilities & & \\ \hline Total liabilities & & \\ \hline Shareholders' equity: & & \\ \hline & & \\ \hline & & \\ \hline Total shareholders' equity & & \\ \hline Total liabilities and shareholders' equity & \\ \hline \end{tabular}

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