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The following items are taken from the financial statements of Cullumber Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements
The following items are taken from the financial statements of Cullumber Company at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation-equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $195,000 21,300 9,000 11,850 82,800 264,000 45,750 6,400 12,100 77,500 506,000 33,000 9,600 85,200 19,000 3,000 15,700 47,400 72,900 4,700 Prepare a classified balance sheet. Assume that $9,500 of the mortgage payable will be paid in 2023. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings, Equipment and Land Improvements.) CULLUMBER COMPANY Balance Sheet December 31, 2022 MENIMEN (in millions)
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