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Check my work Exercise 8-23 (Algo) Preparing a balance sheet LO P1, P3, P4 Selected accounts from Gregor Company's adjusted trial balance for the year ended December 31 follow. Prepare a classified balance sheet. Note: On the company's balance sheet, accumulated depreciation is subtracted from equipment, accumulated amortization is subtracted from patents, and accumulated depletion is subtracted from silver mine. Common stock Retained earnings Patents Cash Land Equipment Silver mine $ 10,000 Accounts payable 43,000 Accumulated depreciation-Equipment 4,600 Notes payable (due in 9 years) 6,300 Goodwill 33,000 Accumulated depletion-Silver mine 23,000 Accumulated amortization-Patents 18,000 $ 2,300 15,700 14,000 5,300 3,600 1,600 GREGOR COMPANY Balance Sheet December 31 Manoto December 31 Assets Current assets Cash $ 6,300 Plant assets Patents $ 4,600 23,000 (18,400) Equipment Accumulated depreciation Equipment Silver mine Accumulated depletionSilver mine Total plant assets Intangible assets 15,700 18,000 (2,300) 3,600 (17,100) 0 Total intangible assets 0 Total assets A (10.800) 0 Total intangible assets Total assets $ (10,800) Liabilities Current liabilities Accounts payable $ 2,300 Long-term liabilities Notes payable 14,000 Total liabilities 16,300 Equity Retained earnings Common stock 43,000 10,000 Total equity Total liabilities and equity 53,000 69,300 CA