The Classified Balance Sheet as at December 31, 2021 Total assets is $973,000 and Total liabilities & shareholders equity $973,000.
<h3>Classified Balance Sheet </h3>
Classified Balance Sheet as at December 31, 2021 for Almway Corporation
Assets
Current assets:
Cash and cash equivalent $39,000
($63,000-$24,000)
Short term investment $89,000
($128,000-$39,000)
Accounts receivable, net of allowance $69,000
Inventory $209,000
Prepaid insurance $7,000
Total current assets $413,000
Long-term assets:
Investment
Marketable securities $39,000
Land held for sales $34,000
Restricted cash <u>$24,000 </u> $97,000
Property, plant, and equipment
Land $74,000
($108,000-$34,000)
Buildings $429,000
Equipment $119,000
Accumulated depreciation (<u>$178,000)</u>
($109,000+$69,000)
Net property, Plant, and Equipment $444,000
Intangible assets
Patents <u>$19,000</u>
Total assets <u>$973,000</u>
Liabilities and shareholder equity Equity
Current Liabilities:
Accounts payable $94,000
Interest payable $29,000
Note Payable $39,000
Current maturities of long-term debt <u>$11,800</u>
Total current liabilities <u>$173,800</u>
Long-term liabilities
Note Payable $106,200
($157,000-$39,000-$11,800)
Bonds Payable <u>$249,000</u>
Total long-term liabilities $355,200
Shareholders equity
Common stock $327,000
Retained earnings <u>$117,000</u>
Total shareholders equity <u>$444,000</u>
Total liabilities & shareholders equity <u> $973,000</u>
Therefore the Classified Balance Sheet as at December 31, 2021 Total assets is $973,000 and Total liabilities & shareholders equity $973,000.
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