Valley Pump Corporation
Balance Sheet
December 31st, 2018
Assets:
Current Assets
Total Current Assets
Investments
Total Investments
Property, Plant, and Equipment
Net Property, Plant, and Equipment
Intangabile Assets
Total Assets
Liabilities and Shareholders Equity
Current Liabilities
Total Current Liabilities
Total Liabilities
Total Shareholders Equity

The following is the ending balances of accounts at December 31, 2018 for the Valley Pump Corporation Account Title Cash Accounts receivable Inventories Interest payable Marketable securities Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Copyright (net of amortization) Prepaid expenses (next 12 months) Accounts payable Deferred revenues (next 12 months) Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals Debits Credits 30,000 66,000 91,000 15,000 54,000 130,000 325,000 105,000 85,000 30,000 17,000 37,000 70,000 25,000 275,000 5,000 250,000 60,000 835,000 835,000 Additional information: 1. The $130,000 balance in the land account consists of $105,000 for the cost of land where the plant and office buildings are located 2. The $54,000 in the marketable securities account represents an investment in the common stock of another corporation. Valley 3. The notes payable account consists of a $110,000 note due in six months and a $165,000 note due in three annual installments of The remaining $25,000 represents the cost of land being held for speculation intends to sell one-half of the stock within the next year. $55,000 each, with the first payment due in August of 2019 Required Prepare a classified balance sheet for the Valley Pump Corporation at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)