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The following items were taken from the financial statements of Pronghorn Company. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Stock investments (long-term)
The following items were taken from the financial statements of Pronghorn Company. (All amounts are in thousands.) Long-term debt Prepaid insurance Equipment Stock investments (long-term) Debt investments (short-term) Notes payable (due in 2020) Cash $1,000 Accumulated depreciation-equipment $5,800 720 Accounts payable 1,800 11,900 Notes payable (due after 2020) 500 300 Common stock 9,620 3,900 Retained earnings 4,000 400 Accounts receivable 2,200 2,400 Inventory 1.700 Prepare a classified balance sheet in good form as of December 31, 2019. (Enter amounts in thousands. List Current Assets in order of liquidity.) Pronghorn Company Balance Sheet December 31, 2019 Assets Current Assets Cash 2400 Accounts Receivable 2200 Inventory 1700 Prepaid Insurance 720 Debt Investments 3900 Total Current Assets 10920 Long-term Investments 300 Property, Plant and Equipment Equipment 11900 Less Less : Accumulated Depreciation Equipment D 5 800 i 6100 Total Assets 17320
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