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These items are taken from the financial statements of Wildhorse Co. at December 31, 2022. Buildings Accounts receivable Prepaid insurance $105,800 12,600 3,200 Cash
These items are taken from the financial statements of Wildhorse Co. at December 31, 2022. Buildings Accounts receivable Prepaid insurance $105,800 12,600 3,200 Cash 11,840. Equipment 82,400 Land 61,200 Insurance expense 780 Depreciation expense 5,300 Interest expense 2,600 Common stock 60,000 Retained earnings (January 1, 2022) 40,000 Accumulated depreciation-buildings 45,600 Accounts payable 9,500 Notes payable 93,600 Accumulated depreciation-equipment 18,720 Interest payable 3,600 Service revenue 14,700. Prepare a classified balance sheet. Assume that $13,600 of the note payable will be paid in 2023. (List Current Assets in order of liquidity and Property, Plant and Equipment in order of Land, Buildings and Equipment.)
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