$($Balance Sheet Preparation$)$ Presented below are a number of balance sheet items for Montoya, Inc. for the current year, $2025.$ Goodwill

Payroll taxes payable Bonds payable

Discount on bonds payable Cash

Land Notes receivable

Notes payable $($to banks$)$ Accounts payable Retained earnings

Income taxes receivable Notes payable $($long$-$term$)$

Instructions

Prepare a classified balance sheet in good form. Common stock authorized was $400,000$ shares, and pre$-$ferred stock authorized was $20,000$ shares. Assume that notes receivable and notes payable are short$-$term, unless stated otherwise. Cost and fair value of debt investments $($trading$)$ are the same.

P$4\mathrm{.}3($LO $1)($Balance Sheet Adjustment and Preparation$)$ The post$-$closing trial balance of East$-$wood Company and other related information for the year $2025$ are presented as follows.

Eastwood Company

Post$-$Closing Trial Balance December $31,2025$

Debit Cash Accounts Receivable

Allowance for Doubtful Accounts Prepaid Insurance

Inventory

Equity Investments $($long$-$term$)$ Land

Construction in Process $($building$)$ Patents

Equipment

Accumulated Depreciation$$Equipment Discount on Bonds Payable

Accounts Payable Accrued Liabilities

Notes Payable Bonds Payable

Common Stock

Paid$-$in Capital in Excess of Par$$Common Stock

Retained Earnings $$1,422,900$ $ $41,000163,500$ $ $5,900$

$208,500339,00085,000$

$124,00036,000$

$400,000240,00020,000$

$148,00049,20094,000$

$200,000500,00045,000$

$138,000$ $$1,422,9008,700$ Credit

$ $125,000$ Accumulated depreciation$$equipment Inventory

$177,591$

$300,000$ Rent payable $($short$-$term$)15,000$ Income taxes payable $360,000$ Rent payable $($long$-$term$)480,000$ Common stock, $$1$ par value $445,700$ Preferred stock, $$10$ par value $265,000$ Prepaid expenses $490,000$ Equipment

$?$ Debt investments $($trading$)1,600,000$

$97,630$ Accumulated depreciation$$buildings Buildings

$ $292,000239,80045,00098,362$

$480,000200,000150,00087,920$

$1,470,000121,000270,200$

$1,640,000$

Prepare a classified balance sheet in good form. Common stock authorized was $400,000$ shares, and pre$-$ferred stock authorized was $20,000$ shares. Assume that notes receivable and notes payable are short$-$term, unless stated otherwise. Cost and fair value of debt investments $($trading$)$ are the same.