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The following is the ending balances of accounts at December $31,2024,$ for the Weismuller Publishing Company.

Account Title Debits Credits

Cash $ $81,000$

Accounts receivable $176,000$

Inventory $293,000$

Prepaid expenses $164,000$

Equipment $336,000$

Accumulated depreciation $ $118,000$

Investments $156,000$

Accounts payable $68,000$

Interest payable $28,000$

Deferred revenue $88,000$

Income taxes payable $38,000$

Notes payable $240,000$

Allowance for uncollectible accounts $24,000$

Common stock $408,000$

Retained earnings $194,000$

Totals $ $1,206,000$ $ $1,206,000$

Additional information:

Prepaid expenses include $$136,000$ paid on December $31,2024,$ for two year of rent on the building that houses both the administrative offices and the manufacturing facility.

Investments include $$38,000$ in Treasury bills purchased on November $30,2024.$ The bills mature on January $30,2025.$ The remaining $$118,000$ is an investment in equity securities that the company intends to sell in the next year.

Deferred revenue represents customer prepayments for subscriptions. Subscriptions are for periods of one year or less.

The notes payable account consists of the following:

a $$48,000$ note due in six months.

a $$129,000$ note due in six years.

a $$63,000$ note due in three annual installments of $$21,000$ each, with the next installment due August $31,2025.$

The common stock account represents $408,000$ shares of no par value common stock issued and outstanding. The corporation has $816,000$ shares authorized.

Required:

Prepare a classified balanced sheet for the Weismuller Publishing Company at December $31,2024.$

Note: Amounts to be deducted should be indicated by a minus sign.

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