The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation. Credits 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 91,000 206,000 147,000 47,000 227,000 52,000 28,000 292,000 1,670,000 649,000 164,000 52,000 310,000 24,000 632,000 222,000 201,000 22,000 28,000 52,000 72,000 324,000 20,000 2,048,000 338,000 3,959,000 3,959,000 Additional information: 1. The common stock represents 1.1 million shares of no par stock authorized, 620,000 shares issued and outstanding. 2. The receivables from employees are due on June 30, 2022. 3. The notes receivable are due in installments of $62,000, 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 $62,000 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 $112,000 due on January 15, 2023, and another for $212,000 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.) Balance Sheet At December 31, 2021 Assets Current assets Cash and cash equivalents $ 153,000 Accounts receivable 127,000 Allowance for uncollectible accounts $ (20,000) 147,000 Accounts receivable Net accounts receivable Inventory Prepaid expenses Short-term investments 127,000 227,000 28,000 144,000 62,000 24,000 Notes receivable Interest receivable Receivables from employees 52,000 Total current assets 944,000 Investments: $ 47,000 Long-term Investments Notes receivable 248,000 Total investments 295,000 Property, plant, and equipment: Land $ 292,000 1,670,000 Buildings Depreciation expense 1,962,000 02,000 property, plant, and equipment Intangible assets: 0 Total intangible assets Total assets Liabilities and Shareholders' Equity $ 3,201,000 Current liabilities: Total current liabilities 0 Long-term liabilities: Total long-term liabilities 0 Total liabilities 0 Shareholders' equity: Total shareholders' equity 0 Total liabilities and shareholders' equity $ 0