The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company.

Account Title	Debits				Credits
Cash	$	105,000
Accounts receivable		200,000
Inventory		305,000
Prepaid expenses		188,000
Equipment		360,000
Accumulated depreciation				$	130,000
Investments		180,000
Accounts payable					80,000
Interest payable					40,000
Deferred revenue					100,000
Income taxes payable					50,000
Notes payable					300,000
Allowance for uncollectible accounts					36,000
Common stock					420,000
Retained earnings					182,000
Totals	$	1,338,000		$	1,338,000

Additional information:

1. Prepaid expenses include $160,000 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 $50,000 in Treasury bills purchased on November 30, 2021. The bills mature on January 30, 2022. The remaining $130,000 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:

1. a $60,000 note due in six months.
2. a $141,000 note due in six years.
3. a $99,000 note due in three annual installments of $33,000 each, with the next installment due August 31, 2022.

5. The common stock account represents 420,000 shares of no par value common stock issued and outstanding. The corporation has 840,000 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
Assets
Current assets:
Cash and cash equivalents		$105,000
Net accounts receivable		0
Inventory		305,000
Accounts receivable		200,000
Total current assets		610,000
Property, plant, and equipment:
Accumulated depreciation
Net property, plant, and equipment		0
Other assets:
Prepaid expenses
Total assets		$610,000
Liabilities and Shareholders' Equity
Current liabilities:
Notes payable
Accounts payable
Interest payable
Deferred revenue
Income taxes payable
Current maturities of long-term debt
Total current liabilities		0
Long-term liabilities:
Notes payable
Total liabilities		0
Shareholders equity:
Common stock	$420,000
Retained earnings	182,000
Total shareholders equity		602,000
Total liabilities and shareholders equity		$602,000