$$Inventory$250$Deferred tax asset$150$Prepaid insurance$35$Accounts payable$40$Accumulated depreciation$6,000$Bonds payable $(2030$ maturity$)7,000$Note receivable $(2022$ maturity$)40$Equipment$3,000$Treasury stock$5$Accounts receivable$40$Premium on bonds payable$100$Preferred stock$500$Accumulated other comprehensive income $($debit balance$)25$Goodwill$200$Allowance for doubtful accounts$3$Discount on notes receivable$4$Land$50$Trading securities$20$Held$-$to$-$maturity securities $$ debt $(2030$ maturity$)200$Security FV adjustment $$ trading $($credit balance$)3$Security FV adjustment $$ AFS $($debit balance$)10$Pension liability$350$Additional paid$-$in capital$5,000$Cash and cash equivalents$600$Available for sale securities $$ debt $(2025$ maturity$)50$Common stock$30$Factories$15,000$Accrued expenses and payables$70$

Bonus Opportunity $($due $\frac{2}{20})$

Part I: Classified balance sheet

Use the following post$-$closing balance information at $\frac{12}{31}\frac{?}{20}$ to create a professional balance sheet. All amounts listed in thousands.

$\backslash$table$[[$Inventory$,250,$Deferred tax asset,$150],[$Prepaid insurance,$35,$Accounts payable,$40],[$Accumulated depreciation,$6,000,$Bonds payable $(2030$ maturity$),7,000],[$Note receivable $(2022$ maturity$),40,$Equipment,$3,000],[$Treasury stock,$5,$Accounts receivable,$40],[$Premium on bonds payable,$100,$Preferred stock,$500],[\backslash$table$[[$Accumulated other comprehensive$],[$income $($debit balance$)]],25,$Goodwill,$200],[$Allowance for doubtful accounts,$3,$Discount on notes receivable,$4],[\backslash$table$[[$Security FV adjustment $-$ AFS $($debit$],[$balance$)]],10,$Pension liability,$350],[$Additional paid$-$in capital,$5,000,$Cash and cash equivalents,$600],[\backslash$table$[[$Available for sale securities $-$ debt$],[(2025$ maturity$)]],50,$Common stock,$30],[$Factories$,15,000,$Accrued expenses and payables,$70]]$

$10\%$ of the bonds will come due $\frac{7}{1}\frac{?}{21}.5\%$ of the premium will expire with their maturity.

$10\%$ of the equipment account is no longer used in operations and is being held idle. $5\%$ of the accumulated depreciation is associated with this idle equipment.

$5\%$ of the cash and cash equivalents are legally$-$restricted in accordance with agreements tied to the long$-$term bonds payable.

Only $70\%$ of the prepaid insurance contract will be used in $2021.$

The inventory in the ledger is presented at cost$,$ the net realizable value of the inventory is $$190,000.$

You must calculate retained earnings from the information given.

Part II: Multistep income statement

Use the following income$-$related items to crtate a multistep income statement for $2020.$ Assume a $20\%$ tax rate $($all amounts listed in thousands and pretax$).$

$\backslash$table$[[$Cost of goods sold,$700,\backslash$table$[[$Impairment of patent used in$],[$continuing operations$]],170],[$Dividend revenue,$70,\backslash$table$[[$Selling$,$ general and administrative$],[$expenses$]],650],[$Sales revenue,$3,250,$Interest expense,$100],[$Unrealized gain on trading securities$,40,$Research and development,$150],[$Depreciation and amortization,$350,$Restructuring costs,$200]]$

In addition, the following information is available regarding a division the company decided to discontinue $($all amounts in thousands$).$

$\backslash$table$[[$Book value of assets,$$5,100,$Book value of liabilities,$$2,700$