The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation.

Account Title	Debits			Credits
Cash		75,000
Short-term investments		190,000
Accounts receivable		131,000
Long-term investments		39,000
Inventory		219,000
Receivables from employees		44,000
Prepaid expenses (for 2022)		20,000
Land		284,000
Building		1,590,000
Equipment		641,000
Patent (net)		156,000
Franchise (net)		44,000
Notes receivable		270,000
Interest receivable		16,000
Accumulated depreciationbuilding				624,000
Accumulated depreciationequipment				214,000
Accounts payable				193,000
Dividends payable (payable on 1/16/2022)				14,000
Interest payable				20,000
Income Taxes payable				44,000
Deferred revenue				64,000
Notes payable				308,000
Allowance for uncollectible accounts				12,000
Common stock				2,016,000
Retained earnings				210,000
Totals		3,719,000		3,719,000

Additional information:

1. The common stock represents 1.4 million shares of no par stock authorized, 540,000 shares issued and outstanding.
2. The receivables from employees are due on June 30, 2022.
3. The notes receivable are due in installments of $54,000, payable on each September 30. Interest is payable annually.
4. Short-term investments consist of securities that the company plans to sell in 2022 and $54,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2022. Long-term investments consist of securities that the company does not plan to sell in the next year.
5. Deferred revenue represents payments from customer for extended service contracts. Seventy five percent of these contracts expire in 2022, the remainder in 2023.
6. Notes payable consists of two notes, one for $104,000 due on January 15, 2023, and another for $204,000 due on June 30, 2024.

Required: Prepare a classified balance sheet for Vosburgh at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation. Account Title Debits Credits Cash 75,000 Short-term investments 190,000 Accounts receivable 131,000 Long-term investments 39,000 Inventory 219,000 Receivables from employees 44,000 Prepaid expenses (for 2022) 20,000 Land 284,000 Building 1,590,000 Equipment 641,000 Patent (net) 156,000 Franchise (net) 44,000 Notes receivable 270,000 Interest receivable 16,000 Accumulated depreciation-building 624,000 Accumulated depreciation equipment 214,000 Accounts payable 193,000 Dividends payable (payable on 1/16/2022) 14,000 Interest payable 20,000 Income Taxes payable 44,000 Deferred revenue 64,000 Notes payable 308,000 Allowance for uncollectible accounts 12,000 Common stock 2,016,000 Retained earnings 210,000 Totals 3,719,000 3,719,000 Additional information: 1. The common stock represents 1.4 million shares of no par stock authorized, 540,000 shares issued and outstanding. 2. The receivables from employees are due on June 30, 2022. 3. The notes receivable are due in installments of $54,000, payable on each September 30. Interest is payable annually. 4. Short-term investments consist of securities that the company plans to sell in 2022 and $54,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2022. Long-term investments consist of securities that the company does not plan to sell in the next year. 5. Deferred revenue represents payments from customer for extended service contracts. Seventy five percent of these contracts expire in 2022, the remainder in 2023. 6. Notes payable consists of two notes, one for $104,000 due on January 15, 2023, and another for $204,000 due on June 30, 2024. Required: Prepare a classified balance sheet for Vosburgh at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) $ 75,000 190,000 VOSBURGH ELECTRONICS CORPORATION Balance Sheet At December 31, 2021 Assets Current assets Cash and cash equivalents Short-term investments Accounts receivable $ 131,000 Allowance for uncollectible accounts (12,000) Net accounts receivable Interest receivable Inventory Loans to employees Prepaid expenses 119,000 16,000 219,000 44.000 20,000 Total current assets 683,000 Investments: 0 Total investments Property, plant, and equipment: Land Buildings Depreciation expense $ 284,000 1,590,000 (624,000) 1,250,000 1,250,000 Net property, plant, and equipment Intangible assets: 0 $1,933.000 Total intangible assets Total assets Liabilities and Shareholders' Equity Current liabilities: 0 Total investments Property, plant, and equipment: Land Buildings Depreciation expense $ 284,000 1,590,000 (624,000) 1,250,000 1,250,000 Net property, plant, and equipment Intangible assets: 0 $1,933,000 Total intangible assets Total assets Liabilities and Shareholders' Equity Current liabilities: Total current abilities Long-term liabilities: 0 Total long-term liabilities Total liabilities Shareholders' equity: Common stock Retained earnings 0 Total shareholders' equity Total liabilities and shareholders' equity $