You are provided with the following balance sheet accounts of New Bay Inc., a public company, as at December 31, 2024: 

Accounts payable ..........................................................................................$ 35,000 

Accounts receivable .........................................................................................60,000 

Accumulated depreciation—equipment ......................................................40,000 

Accumulated other comprehensive income .................................................2,000 

Allowance for doubtful accounts ...................................................................10,000 

Bonds payable, 8%, due 2026 ......................................................................268,000 

Cash ...................................................................................................................22,000 

Common shares, no par value, unlimited authorized, 10,000 issued ...100,000

Equipment ........................................................................................................66,000 

Interest payable ..............................................................................................18,000 

Interest receivable ...........................................................................................1,500 

Investments at amortized cost (matures January 1, 2028) .....................180,000 

Investments at FVTOCI 25,000 Investments at FVTPL ...............................48,500 

Investment in associate................................................................................. 55,000 

Note receivable, 5%, due April 21, 2027 ......................................................60,000 

Retained earnings........................................................................................... 45,000

Additional information: 

1. Investments at amortized cost is a bond investment in Aliant Inc. 

2. Investments at FVTOCI is an equity investment in Dreamspark Inc. 

3. Investments at FVTPL is an equity investment in Imagine Corp. that was purchased for resale. 

Instructions 

Prepare New Bay’s classified balance sheet at December 31, 2024. Assume any investments reported at fair value through other comprehensive income are long term.