part 2

Brief Exercise 3-4 (Algo) Balance sheet classification (LO3-2, 3-3) The trial balance for K and J Nursery, Inc., listed the following account balances at December 31, 2021, the end of its fiscal year. cash, $21,000; accounts receivable. $16,000, Inventory, $30,000, equipment (net), $85,000; accounts payable, $19,000; salaries payable, $7,500; Interest payable, $3,500; notes payable (due in 18 months). $35,000, common stock, $60,000. Prepare a classified balance sheet fork and J Nursery, Inc. The equipment originally cost $140,000. (Amounts to be deducted should be Indicated by a minus sign.) ook rences KAND J NURSERY, INC. Balance Sheet At December 31, 2021 Assets Current antis 0 Total current asset Property, plant and equipment Net property, plant, and equipment Total assets 0 0 $ TC raw Till 0 Net property, plant, and equipment Total assets Liabilities and Shareholders' Equity Current liabilities $ 0 Total current liabilities Long-term liabilities 0 Total liabilities Shareholders' equity 0 Total shareholders' equity Total liabilities and shareholders' equity oo