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Classified balance sheet

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(Preparation of a Balance Sheet) Presented below is the trial balance of Vivaldi Corporation at December 31, 2010.
Instructions:

Cash $ 197,000
Sales $ 7,900,000
Trading Securities (at cost, $145,000) 153,000
Cost of Goods Sold 4,800,000
Long-term Investments in Bonds 299,000
Long-term Investments in Stocks 277,000
Short-term Notes Payable 90,000
Accounts Payable 455,000
Selling Expenses 2,000,000
Investment Revenue 63,000
Land 260,000
Buildings 1,040,000
Dividends Payable 136,000
Accrued Liabilities 96,000
Accounts Receivable 435,000
Accumulated Depreciation-Buildings 352,000
Allowance for Doubtful Accounts 25,000
Administrative Expenses 900,000
Interest Expense 211,000
Inventories 597,000
Extraordinary Gain 80,000
Long-term Notes Payable 900,000
Equipment 600,000
Bonds Payable 1,000,000
Accumulated Depreciation-Equipment 60,000
Franchise 160,000
Common Stock ($5 par) 1,000,000
Treasury Stock 191,000
Patent 195,000
Retained Earnings 78,000
Paid-in Capital in Excess of Par 80,000

Total $12,315,000 $12,315,000

Prepare a balance sheet at December 31, 2010, for Vivaldi Corporation. Ignore income taxes.

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The solution explains how to prepare a classified balance sheet

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