The following is a December 31, 2018, post-closing trial balance for the Jackson Corporation.

Required:
Prepare a classified balance sheet for Jackson Corporation at December 31, 2018.

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Account Title Debits Credits Cash Accounts receivable $ 40,000 34,000 75,000 16,000 10,000 145,000 Prepaid rent for the next 8 months Marketable securities (short term) Machinery $11,000 Patent (net of amortization) Accounts payable Wages payable Taxes payable Bonds payable (due in 10 years) Common stock Retained earnings 83,000 8,000 4,000 32,000 200,000 100,000 48,000 $403,000 1 $403,000