The following items were taken from the financial statements of D. Gygi Company. (All amounts are in thousands.)

Instructions

Prepare a classified balance sheet in good form as of December 31, 2020.

Transcribed Image Text:

$ Accumulated depreciation- 1,000 equipment 880 Accounts payable Long-term debt 5,655 Prepaid insurance 1,444 Equipment Stock investments (long- term) 11,500 Notes payable (due after 2020) 400 264 Common stock 10,000 Debt investments (short- term) 3,690 Retained earnings 2,955 Notes payable (due in 2020) 500 Accounts receivable 1,696 Cash 2,668 Inventory 1,256