Additional Information:

Cash includes a $$29,000$ restricted amount to be used for repayment of the bonds payable in $2028.$

The cost of the machinery is $$208,000.$

Accounts receivable includes a $$29,000$ notes receivable from a customer due in $2027.$

The notes payable balance includes accrued interest of $$14,000.$ Principal and interest are both due on February $1,20$

The company began operations in $2019.$ Net income less dividends since inception of the company totals $$44,000.$

$59,000$ shares of no par common stock were issued in $2019.100,000$ shares are authorized.

Required:

Prepare a corrected, classified balance sheet. Use the additional information to help determine appropriate classifications a

balances. The cost of machinery and its accumulated depreciation are shown separately.

Note: Amounts to be deducted should be indicated by a minus sign.

LOS GATOS CORPORATION

Balance Sheet

At December $31,2024$

Assets