The following is a December 31, 2013, post-closing trial balance for the Weismuller Publishing Company.

Additional Information:

1. Prepaid expenses include $120,000 paid on December 31, 2013, for a two-year lease on the building that houses both the administrative offices and the manufacturing facility.

2. Investments include $30,000 in Treasury bills purchased on November 30, 2013. The bills mature on January

30, 2014. The remaining $110,000 includes investments in marketable equity securities that the company intends to sell in the next year.

3. Unearned revenue represents customer prepayments for magazine subscriptions. Subscriptions are for periods of one year or less.

4. The notes payable account consists of the following:

a. a $40,000 note due in six months.

b. a $100,000 note due in six years.

c. a $60,000 note due in three annual installments of $20,000 each, with the next installment due August 31, 2014.

5. The common stock account represents 400,000 shares of no par value common stock issued and outstanding. The corporation has 800,000 shares authorized.

Required:

Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31, 2013.

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Debits Account Title Credits Cash 65,000 160,000 285,000 Accounts receivable Inventories Prepaid expenses Machinery and equipment Accumulated depreciation-equipment 148,000 320,000 110,000 140,000 Investments Accounts payable Interest payable Unearned revenue 60,000 20,000 80,000 30,000 200,000 16,000 400,000 202,000 Taxes payable Notes payable Allowance for uncollectible accounts Common stock Retained earnings Totals 1,118,000 1,118,000