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Below is selected account and item information related to Super Subs Inc., a business of sandwich sales, at December 31, 20X1. Assume the company's operating
Below is selected account and item information related to Super Subs Inc., a business of sandwich sales, at December 31, 20X1. Assume the company's operating cycle is one year. Prepare a classified balance sheet according to GAAP (using the appropriate format and terminology). To save time, prepare the balance sheet in a "condensed" format except for the current assets and stockholders' equity sections that need to be filled out completely. Please copy and paste the blank table below into your answer field and type in the necessary information. Note that not all lines may be needed. Franchises $33,000 Treasury stock $41,100 Product warranties, long-term $29,900 Notes receivable maturing October 31, 20X3 $44,000 Cash equivalents $9,500 Gain on sale of short-term equity investments $17,100 Interest receivable $16,300 Accumulated depreciation-buildings $63,800 Depreciation expense $32,900 Common stock (54 par value and 42,500 shares outstanding) $170,000 Premium on bonds payable, short-term $2,400 Goodwill $20,500 Deferred income tax asset $7,700 Pension fund $12,400 Dividends payable $15.800 Cash $23,400 Cash restricted for long-term liabilities $42.900 Retained earnings $63,500 Sales returns and allowances $6,800 Bonds payable, short-term $63,600 Buildings $87,200 Prepaid pension costs $15.400 Interest expense $13.500 Prepaid rent for the next 8 months $55,600
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