Prepare a classified balance sheet for the Almway Corporation at December 31, 2013.Cash51,000Investments116,000Accounts receivable63,000&nbs

Prepare a classified balance sheet for the Almway Corporation at December 31, 2013.

Cash 51,000      Investments 116,000      Accounts receivable 63,000      Inventories 203,000      Prepaid insurance 9,000      Land 96,000      Buildings 423,000      Accumulated depreciation—buildings    103,000   Equipment 113,000      Accumulated depreciation—equipment    63,000   Patents (net of amortization) 13,000      Accounts payable    81,000   Notes payable    139,000   Interest payable    23,000   Bonds payable    243,000   Common stock    309,000   Retained earnings    126,000       Totals 1,087,000  1,087,000  

Additional information:

 1. 

The investment account includes an investment in common stock of another corporation of $33,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year.

 2. 

The land account includes land which cost $28,000 that the company has not used and is currently listed for sale.

 3. 

The cash account includes $18,000 set aside in a fund to pay bonds payable that mature in 2016 and $26,000 set aside in a three-month Treasury bill.

 4. The notes payable account consists of the following: a. a $33,000 note due in six months. b. a $53,000 note due in six years. c. 

a $53,000 note due in 5 annual installments of $10,600 each, with the next installment due February 15, 2014.

 5. The $63,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $7,000. 6. 

The common stock account represents 103,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized.

Required:

Prepare a classified balance sheet for the Almway Corporation at December 31, 2013.