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The following is the ending balances of accounts at December 31, 2018 for the Vosburgh Electronics Corporation.

Account Title	Debits			Credits
Cash		97,000
Short-term investments		212,000
Accounts receivable		153,000
Long-term investments		50,000
Inventories		230,000
Loans to employees		55,000
Prepaid expenses (for 2019)		31,000
Land		295,000
Building		1,700,000
Machinery and equipment		652,000
Patent		167,000
Franchise		55,000
Note receivable		325,000
Interest receivable		27,000
Accumulated depreciationbuilding				635,000
Accumulated depreciationequipment				225,000
Accounts payable				204,000
Dividends payable (payable on 1/16/19)				25,000
Interest payable				31,000
Taxes payable				55,000
Deferred revenue				75,000
Notes payable				330,000
Allowance for uncollectible accounts				23,000
Common stock				2,060,000
Retained earnings				386,000
Totals		4,049,000		4,049,000

Additional information:

The common stock represents 1.2 million shares of no par stock authorized, 650,000 shares issued and outstanding.

The loans to employees are due on June 30, 2019.

The note receivable is due in installments of $65,000, payable on each September 30. Interest is payable annually.

Short-term investments consist of marketable equity securities that the company plans to sell in 2019 and $65,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2019. Long-term investments consist of marketable equity securities that the company does not plan to sell in the next year.

Deferred revenue represents customer payments for extended service contracts. Eighty percent of these contracts expire in 2019, the remainder in 2020.

Notes payable consists of two notes, one for $115,000 due on January 15, 2020, and another for $215,000 due on June 30, 2021.

Required: Prepare a classified balance sheet for Vosburgh at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)

The following is the ending balances of accounts at December 31, 2018 for the Vosburgh Electronics Corporation.

Account Title	Debits			Credits
Cash		97,000
Short-term investments		212,000
Accounts receivable		153,000
Long-term investments		50,000
Inventories		230,000
Loans to employees		55,000
Prepaid expenses (for 2019)		31,000
Land		295,000
Building		1,700,000
Machinery and equipment		652,000
Patent		167,000
Franchise		55,000
Note receivable		325,000
Interest receivable		27,000
Accumulated depreciationbuilding				635,000
Accumulated depreciationequipment				225,000
Accounts payable				204,000
Dividends payable (payable on 1/16/19)				25,000
Interest payable				31,000
Taxes payable				55,000
Deferred revenue				75,000
Notes payable				330,000
Allowance for uncollectible accounts				23,000
Common stock				2,060,000
Retained earnings				386,000
Totals		4,049,000		4,049,000

Additional information:

The common stock represents 1.2 million shares of no par stock authorized, 650,000 shares issued and outstanding.

The loans to employees are due on June 30, 2019.

The note receivable is due in installments of $65,000, payable on each September 30. Interest is payable annually.

Short-term investments consist of marketable equity securities that the company plans to sell in 2019 and $65,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2019. Long-term investments consist of marketable equity securities that the company does not plan to sell in the next year.

Deferred revenue represents customer payments for extended service contracts. Eighty percent of these contracts expire in 2019, the remainder in 2020.

Notes payable consists of two notes, one for $115,000 due on January 15, 2020, and another for $215,000 due on June 30, 2021.

Required: Prepare a classified balance sheet for Vosburgh at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)

The following is the ending balances of accounts at December 31, 2018 for the Vosburgh Electronics Corporation. Account Title Debits Credits Cash 97,000 Short-term investments 212,000 Accounts receivable 153,000 Long-term investments 50,000 Inventories 230,000 Loans to employees 55,000 Prepaid expenses (for 2019) 31,000 Land 295,000 Building 1,700,000 Machinery and equipment 652,000 Patent 167,000 Franchise 55,000 Note receivable 325,000 Interest receivable 27,000 Accumulated depreciationbuilding 635,000 Accumulated depreciationequipment 225,000 Accounts payable 204,000 Dividends payable (payable on 1/16/19) 25,000 Interest payable 31,000 Taxes payable 55,000 Deferred revenue 75,000 Notes payable 330,000 Allowance for uncollectible accounts 23,000 Common stock 2,060,000 Retained earnings 386,000 Totals 4,049,000 4,049,000 Additional information: The common stock represents 1.2 million shares of no par stock authorized, 650,000 shares issued and outstanding. The loans to employees are due on June 30, 2019. The note receivable is due in installments of $65,000, payable on each September 30. Interest is payable annually. Short-term investments consist of marketable equity securities that the company plans to sell in 2019 and $65,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2019. Long-term investments consist of marketable equity securities that the company does not plan to sell in the next year. Deferred revenue represents customer payments for extended service contracts. Eighty percent of these contracts expire in 2019, the remainder in 2020. Notes payable consists of two notes, one for $115,000 due on January 15, 2020, and another for $215,000 due on June 30, 2021. Required: Prepare a classified balance sheet for Vosburgh at December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)

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