Accounting

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Common stock, no par value, 10,000 shares
authorized, 5,724 shares issued$3,180
Retained earnings129,950
Deferred income tax liability (long term)24,000
Long-term debt99,870
Accounts payable35,000
Buildings75,000
Machinery and equipment300,000
Land11,000
Accumulated depreciation200,000
Cash3,000
Receivables, less allowance of $3,00058,000
Accrued income taxes3,000
Inventory54,000
Other accrued expenses8,000
Current portion of long-term debt7,000
Prepaid expenses2,000
Other assets (long term)7,000
Required Prepare a classified balance sheet in report form.
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