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The following is the ending balances of accounts at December 31, 2016, for the Vosburgh Electronics Corporation. Account Title Debits Credits Cash 105,000 Short-term investments

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

Account Title Debits Credits
Cash 105,000
Short-term investments 220,000
Accounts receivable 161,000
Long-term investments 54,000
Inventories 234,000
Loans to employees 59,000
Prepaid expenses (for 2017) 35,000
Land 299,000
Building 1,740,000
Machinery and equipment 656,000
Patent 171,000
Franchise 59,000
Note receivable 345,000
Interest receivable 31,000
Accumulated depreciationbuilding 639,000
Accumulated depreciationequipment 229,000
Accounts payable 208,000
Dividends payable (payable on 1/16/17) 29,000
Interest payable 35,000
Taxes payable 59,000
Deferred revenue 79,000
Notes payable 338,000
Allowance for uncollectible accounts 27,000
Common stock 2,076,000
Retained earnings 450,000
Totals 4,169,000 4,169,000

Additional information:
1.

The common stock represents 1.6 million shares of no par stock authorized, 690,000 shares issued and outstanding.

2. The loans to employees are due on June 30, 2017.
3.

The note receivable is due in installments of $69,000, 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 $69,000 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 $119,000 due on January 15, 2018, and another for $219,000 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.)

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