Mills Company prepared the following balance sheet at the beginning
Mills Company prepared the following balance sheet at the beginning of 2016:
Balance Sheet
January 1, 2016
At the end of 2016, Mills prepared the following statement of cash flows:
Statement of Cash Flows
For Year Ended December 31, 2016
Additional information related to the statement of cash flows:
1. The long-term bonds have a face value of $6,000 and were issued on December 31, 2016.
2. The building was purchased on December 30, 2016.
3. The land was sold at its original cost.
4. The common stock which was sold totaled 300 shares and had a par value of $10 per share.
Required:
Prepare a classified balance sheet for Mills as of December 31, 2016.
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