The following is a December 31, 2024, post-closing trial balance for the Jackson Corporation.

Required:
Prepare a classified balance sheet for Jackson Corporation at December 31, 2024, by properly classifying each of the accounts.

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Account Title Cash Accounts receivable Inventory Prepaid rent (for the next 8 months) Investment in equity securities (short term) Machinery Accumulated depreciation Patent (net) Accounts payable Salaries payable Income taxes payable Bonds payable (due in 10 years) Common stock Retained earnings Totals Debits $ 40,000 34,000 75,000 16,000 10,000 145,000 83,000 $403,000 Credits $ 11,000 8,000 4,000 32,000 200,000 100,000 48,000 $403,000