Prepare a classified balance sheet for Jackson Corporation at December $31,2024,$ ?by properly classifying each of the accounts.

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Account Title Debits Credits Cash $ 53,000 Accounts receivable 47,000 Inventory 88,000 Prepaid rent (for the next 8 months) 29,000 Investment in equity securities 23,000 (short term) Machinery 210,000 Accumulated depreciation 24,000 Patent (net) 92,000 Accounts payable 14,500 Salaries payable 10,500 Income taxes payable 45,000 Bonds payable (due in 10 years) 200,000 Common stock 160,000 Retained earnings 88,000 Totals 2,00 $ 542,000 542,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2024, by properly classifying each of the accounts. Note: Amounts to be deducted should be indicated by a minus sign. JACKSON CORPORATION Balance Sheet At December 31, 2024 Current assets: Assets Total current assets Property, plant, and equipment: Net property, plant, and equipment Intangible assets: Total assets Current liabilities: Liabilities and Shareholders' Equity Total current liabilities Long-term liabilities: Total liabilities Shareholders' equity: Account Title Debits Credits Cash $ 53,000 Accounts receivable 47,000 Inventory 88,000 Prepaid rent (for the next 8 months) 29,000 Investment in equity securities 23,000 (short term) Machinery 210,000 Accumulated depreciation 24,000 Patent (net) 92,000 Accounts payable 14,500 Salaries payable 10,500 Income taxes payable 45,000 Bonds payable (due in 10 years) 200,000 Common stock 160,000 Retained earnings 88,000 Totals 2,00 $ 542,000 542,000 Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2024, by properly classifying each of the accounts. Note: Amounts to be deducted should be indicated by a minus sign. JACKSON CORPORATION Balance Sheet At December 31, 2024 Current assets: Assets Total current assets Property, plant, and equipment: Net property, plant, and equipment Intangible assets: Total assets Current liabilities: Liabilities and Shareholders' Equity Total current liabilities Long-term liabilities: Total liabilities Shareholders' equity: