The December 31, 2024, post-closing trial balance ($ in thousands) for Libby Corporation is presented below: Debits 30,000 70,000 45,000 Cash Long-term investments Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patents (unamortized balance) Accounts payable Notes payable, due 2025 Interest payable. Bonds payable, due 2041 Common stock (no par), 32,000 shares authorized, issued, and outstanding Retained earnings. Totals 6,500 175,000 60,000 215,000 155,000 7,000 Credits 8,000 65,000 45,000 45,000 80,000 17,500 195,000 224,000 84,000 763,500 763,500 Required: Prepare a classified balance sheet for Libby Corporation on December 31, 2024. Note: 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.
The December 31, 2024, post-closing trial balance ( $ in thousands) for Libby Corporation is presented below: Required: Prepare a classified balance sheet for Libby Corporation on December 31, 2024. Note: 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. The December 31,2024 , post-closing trial balance ( $ in thousands) for Libby Corporation is presented below: Required: Prepare a classified balance sheet for Libby Corporation on December 31, 2024. Note: 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
