The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented...

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Accounting

The December 31, 2021, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Cash Debits 26,500 Credits Investments (long-term) 63,000 Accounts receivable 38,000 Allowance for uncollectible accounts 7,500 Prepaid insurance 3,000 Inventory 140,000 Land 53,000 Buildings 180,000 Accumulated depreciation-buildings 58,000 Equipment 144,500 Accumulated depreciation-equipment 38,000 Patents (unamortized balance) Accounts payable Notes payable, due 2022 9,000 41,500 73,000 Interest payable Bonds payable, due 2031 Common stock (no par), 29,000 shares authorized, issued, and outstanding Retained earnings 14,000 160,000 203,000 62,000 Totals 657,000 657,000 Required: Prepare a classified balance sheet for Libby Corporation at December 31, 2021. (Enter your answers in the order of their liquidity. Negative amounts should be entered by a minus sign. Enter your answers in thousands of dollars.) LIBBY CORPORATION Balance Sheet At December 31, 2021 ($ in thousands) Total current assets Property, plant, and equipment Net book value of building Net book balue of equipment Net Property, plant, and equipment Assets 0 0 0 0 0 Total assets $ 0 Liabilities and Shareholders' Equity Current liabilities Total assets $ 0 Liabilities and Shareholders' Equity Current liabilities Total current liabilities Long-term liabilities Total liabilities Shareholders' equity Total shareholder's equity Total liabilities and shareholders' equity 0 0 0 EA $ 0

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