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, 2024
($ in 000s)
Assets
Current assets:
Cash	$ 2,750
Accounts receivable	6,500
Allowance for uncollectible accounts	(1,900)
Finished goods inventory	7,500
Prepaid expenses	2,700
Total current assets	17,550
Long-term assets:
Investments	4,500
Raw materials and work in process inventory	3,750
Equipment	24,000
Accumulated depreciation	(5,700)
Patent (net)	?question mark
Total assets	$ ?question mark
Liabilities and Shareholders Equity
Current liabilities:
Accounts payable	$ 6,700
Notes payable	7,000
Interest payable (on notes)	1,600
Deferred revenue	6,000
Total current liabilities	21,300
Long-term liabilities:
Bonds payable	7,000
Interest payable (on bonds)	500
Shareholders equity:
Common stock	?question mark
Retained earnings	?question mark
Total liabilities and shareholders equity	$ ?question mark

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 $7,000. Net income for 2024 was $2,300, and $300 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 $1,750 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, 400,000 shares issued and outstanding.

Required:

Prepare a complete, corrected, classified balance sheet.

Note: Amounts to be deducted should be indicated by a minus sign.

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