The following is the ending balances of accounts at December 31, 2018 for the Vosburgh Electronics Corporation Credits Account Title Cash Short-term investments Accounts receivable Long-term investments Inventories Loans to employees Prepaid expenses (for 2019) Land Building Machinery and equipment Patent Debits 69,000 184,000 125,000 36,000 216,000 41,000 17,000 281,000 1,560,000 638,000 153,000 41,000 255,000 13,000 Franchise Note receivable Interest receivable Accumulated depreciation-building Accumulated depreciation-equipment Accounts payable Dividends payable (payable on 1/16/19) Interest payable Taxes payable Deferred revenue Notes payable Allowance for uncollectible accounts Common stock Retained earnings 621,000 211,000 190,000 11,000 17,000 41,000 61,000 302,000 9,000 2,004,000 162,000 3,629,000 Totals 3,629,000 Additional information: 1. The common stock represents 1.1 million shares of no par stock authorized, 510,000 shares issued and outstanding. 2. The loans to employees are due on June 30, 2019. 3. The note receivable is due in installments of $51,000, payable on each September 30. Interest is payable annually. 4. Short-term investments consist of marketable equity securities that the company plans to sell in 2019 and $51,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2019. Long-term investments consist of marketable equity securities that the company does not plan to sell in the next year. 5. Deferred revenue represents customer payments for extended service contracts. Seventy five percent of these contracts expire in 2019, the remainder in 2020. 6. Notes payable consists of two notes, one for $101,000 due on January 15, 2020, and another for $201,000 due on June 30, 2021. Required: Prepare a classified balance sheet for Vosburgh at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) VO SBURGH ELECTRONICS CORPORATION Balance Sheet At December 31, 2018