Question: Required Use the following information to prepare a classified balance sheet

Required
Use the following information to prepare a classified balance sheet for Latimer Co. at the end of
2016:
Accounts receivable ....... $36,200
Accounts payable ......... 12,400
Cash ............... 29,650
Common stock ........... 50,000
Long-term notes payable ..... 45,500
Merchandise inventory ...... 38,300
Office equipment ........ 36,400
Retained earnings ......... 36,250
Prepaid insurance ........ 3,600

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  • CreatedApril 20, 2015
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