The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation Account Title Cash Short-term investments Accounts receivable Long-term investments Inventory Receivables from employees Prepaid expenses (for 2022) Land Building Equipment Patent (net) Franchise (net) Notes receivable Interest receivable Accumulated depreciation-building Accumulated depreciation equipment Accounts payable Dividends payable (payable on 1/16/2022) Interest payable Income Taxes payable Deferred revenue Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits 79,000 194,000 135,000 41,000 221,000 46,000 22,000 286,000 1,610,000 643,000 158,000 46,000 280,000 18,000 626,800 216,000 195,000 16,800 22,000 46,000 66,000 312,000 14,000 2,024,000 242,809 3,779,000 3,779,800 Additional information: 1. The common stock represents 10 million shares of no par stock authorized, 560,000 shares issued and outstanding 2. The receivables from employees are due on June 30, 2022 3. The notes receivable are due in installments of $56,000 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 $56,000 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 Eighty percent of these contracts expire in 2022, the remainder in 2023 6. Notes payable consists of two notes, one for $106,000 due on January 15, 2023, and another for $206,000 due on June 30, 2024 100 does not plan to sell in the next year. 5. Deferred revenue represents payments from customer for extended service contracts. Eighty percent of these contracts expire in 2022, the remainder in 2023. 6. Notes payable consists of two notes, one for $106,000 due on January 15, 2023, and another for $206,000 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.) VOSBURGH ELECTRONICS CORPORATION Balance Sheet At December 31, 2021 Assets Current assets Net accounts receivable Total current assets Investments: Total investments Property, plant and equipment