Question: All information is given Additional information ( $ in 0 0 0 s ) : Certain records that included the account balances for the patent

All information is given
Additional information ( $ in 000 s):
Certain records that included the account balances for the patent and shareholders' equity items were lost. However, the
controller told you that a complete, preliminary balance sheet prepared before the records were lost showed a debt to equity
ratio of 1.1. That is, total liabilities are 110% of total shareholders' equity. Retained earnings at the beginning of the year was
$5,400. Net income for 2024 was $1,900, and $600 in cash dividends were declared and pald to shareholders.
Management intends to sell the investments in the next six months.
Interest on both the notes and the bonds is payable annually.
The notes payable are due in annual installments of $1,350 each.
Deferred revenue will be recognized as revenue equally over the next two fiscal years.
The common stock represents 600,000 shares of no par stock authorized, 320,000 shares issued and outstanding.
Required:
Prepare a complete, corrected, classified balance sheet.
Note: Amounts to be deducted should be indicated by a minus sign.
 All information is given Additional information ( $ in 000 s):

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