The following is the ending balances of accounts at December 31, 2016, for the Vosburgh Electronics Corporation.

Additional information:

1. The common stock represents 1.7 million shares of no par stock authorized, 700,000 shares issued and outstanding.

2. The loans to employees are due on June 30, 2017.

3. The note receivable is due in installments of $70,000, 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 2017 and $70,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2017. 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. Eighty percent of these contracts expire in 2017, the remainder in 2018.

6. Notes payable consists of two notes, one for $120,000 due on January 15, 2018, and another for $220,000 due on June 30, 2019.

Required: Prepare a classified balance sheet for Vosburgh at December 31, 2016. (Amounts to be deducted should be indicated by a minus sign.)

Debits Account Title Cash Short-term investments Accounts receivable Long-term investments Inventories Loans to employees Prepaid expenses (for 2017) Land Building Machinery and equipment Patent Franchise Note receivable Interest receivable Accumulated depreciation-building Accumulated depreciation-equipment Accounts payable Dividends payable (payable on 1/16/17) Interest payable Taxes payable Deferred revenue Notes payable Allowance for uncollectible accounts Common stock Retained earnings Credits 107,000 222,000 163,000 55,000 235,000 60,000 36,000 300,000 1,750,000 657,000 172,000 60,000 350,000 32,000 640,000 230,000 209,000 30,000 36,000 60,000 80,000 340,000 28,000 2,080,000 466,000 Totals 4,199,000 4,199,000