The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company. Account Title Cash Accounts receivable Inventory Prepaid expenses Equipment Accumulated depreciation Investments Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Additional information: $ Debits 97,000 Credits 192,000 301,000 180,000 352,000 $ 126,000 172,000 76,000 36,000 96,000 46,000 280,000 32,000 416,000 186,000 $1,294,000 $1,294,000 1. Prepaid expenses include $152,000 paid on December 31, 2021, for a two-year lease on the building that houses both the administrative offices and the manufacturing facility. 2. Investments include $46,000 in Treasury bills purchased on November 30, 2021. The bills mature on January 30, 2022. The remaining $126,000 is an investment in equity securities that the company intends to sell in the next year. 3. Deferred revenue represents customer prepayments for magazine subscriptions. Subscriptions are for periods of one year or less. 4. The notes payable account consists of the following: a. a $56,000 note due in six months. b. a $137,000 note due in six years. c. a $87,000 note due in three annual installments of $29,000 each, with the next installment due August 31, 2022. 5. The common stock account represents 416,000 shares of no par value common stock issued and outstanding. The corporation has 832,000 shares authorized. Required: Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) WEISMULLER PUBLISHING COMPANY Balance Sheet At December 31, 2021 Current assets: Cash and cash equivalents Accounts receivable Allowance for uncollectible accounts Prepaid expenses Net accounts receivable Inventory Investment in equity securities Total current assets Property, plant, and equipment: Equipment Accumulated depreciation Net property, plant, and equipment Other assets: Investment in equity securities Prepaid expenses Total assets Current liabilities: Accounts payable Interest payable Deferred revenue Income taxes payable Notes payable (current) Total current liabilities Long-term liabilities: Notes payable (long-term) Total liabilities Shareholders' equity: Common stock Retained earnings Assets 97,000 192,000 -32,000 28,000 (4,000) 301,000 126,000 712,000 ea $ 352,000 (126,000) 226,000 46,000 152,000 $ 1,136,000 Liabilities and Shareholders' Equity Total shareholders' equity Total liabilities and shareholders' equity 416,000 186,000 $ 76,000 36,000 96,000 46,000 85,000 339,000 195,000 534,000 602,000 $ 1,136,000