Question: Problem 2 - Balance Sheet preparation (40 Points) Presented below are a number of balance sheet items for Belize Electricity Limited for the current year,

Problem 2 - Balance Sheet preparation (40 Points) Presented below are a number of balance sheet items for Belize Electricity Limited for the current year, 2021. Instructions: Prepare a classified balance sheet in good form. Common stock authorized was 1,000,000 shares, and preferred stock authorized was 50,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same

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