Alberta Company had the following account balances on December 31, 2022.

Instructions

Prepare the liability and stockholders’ equity section of a classified balance sheet in good form as of December 31, 2022. Assume that $2,900 of the note payable will be paid during 2023.

Prepare a classified balance sheet.

Transcribed Image Text:

Retained earnings $54.500 Common stock $76,100 Interest payable Accounts payable Notes payable 15,900 3,200 Bonds payable 24,900 8,200