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These items are taken from the financial statements of Novak Corp. at December 31, 2017 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense

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These items are taken from the financial statements of Novak Corp. at December 31, 2017 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings (January 1, 2017) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation-equipment Interest payable Service revenue $133,308 15.876 4,032 14,918 103,824 77.112 983 6,678 3.276 75,600 50,400 57.456 11.970 117.936 23,587 4.536 18.522 Prepare a classified balance sheet. Assume that $17,136 of the note payable will be paid in 2018. (List current assets in order of liquidity and property plan and equipment in order of land, buildings and equipment.) Novak Corp. Balance Sheet December 31, 2017 Assets Current Assets Cash $ 14918 Accounts Receivable 15876 Prepaid Insurance 4032 Total Current Assets 34 $ Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity $ $ C $

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