Question
The following items were taken from the financial statements of P. Sunland Company. (All amounts are in thousands.) Long-term debt $1,100 Accumulated depreciation-equipment $5,000
The following items were taken from the financial statements of P. Sunland Company. (All amounts are in thousands.) Long-term debt $1,100 Accumulated depreciation-equipment $5,000 Prepaid insurance 960 Accounts payable 1,700 Equipment 11,000 Notes payable (due after 2023) 400 Stock investments (long-term) 400 Owner's capital 13,660 Debt investments (short-term) 3,800 Accounts receivable 1,700 Notes payable (due in 2023) 400 Inventory 2,000 Cash 2,400 Prepare a classified balance sheet in good form as of December 31, 2022. (List Current Assets in order of liquidity. Enter amounts in thousands.) P. SUNLAND COMPANY Balance Sheet (in thousands) Assets $ Liabilities and Owner's Equity $ $ Liabilities and Owner's Equity LA $ A $ $
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