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

Additional information:

1. The common stock represents 1.4 million shares of no par stock authorized, 600,000 shares issued and outstanding

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

3. The note receivable is due in installments of $60,000, 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 $60,000 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. Seventy five percent of these contracts expire in 2017, the remainder in 2018

6. Notes payable consists of two notes, one for $110,000 due on January 15, 2018, and another for $210,000 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.)

Account Title Cash Short-term investments Accounts receivable Long-term investments Inventories Loans to employees Prepaid expenses (for 2017) Land Building Machinery and equipment Patent Franchise Note receivable Interest receivable Accumulated depreciation-building Accumulated depreciation-equipment Accounts payable Dividends payable (payable on 1/16/17) Interest payable Taxes payable Deferred revenue Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits 87,000 202,000 143,000 45,000 225,000 50,000 26.000 290,000 1,650,000 647,000 162,000 50,000 300,000 22.000 3,899,000 Credits 630,000 220.000 199,000 20,000 26,000 50,000 70,000 320,000 18,000 2,040,000 306.000 3,899,000