The following information was obtained from the accounts of Airl

The following information was obtained from the accounts of Airlines International dated December 31, 2010. It is presented in alphabetical order.
Accounts payable ............... $ 77,916
Accounts receivable ............... 67,551
Accrued expenses ............... 23,952
Accumulated depreciation ............. 220,541
Allowance for doubtful accounts .......... 248
Capital in excess of par ............. 72,913
Cash ....................... 28,837
Common stock (par $0.50, authorized 20,000 shares,
issued 14,304 shares) ................ 7,152
Current installments of long-term debt ......... 36,875
Deferred income tax liability (long term) ........ 42,070
Inventory ................... 16,643
Investments and special funds ............ 11,901
Long-term debt, less current portion ......... 393,808
Marketable securities ............... 10,042
Other assets ................... 727
Prepaid expenses ................. 3,963
Property, plant, and equipment at cost ........ 809,980
Retained earnings ................ 67,361
Unearned transportation revenue (airline tickets
expiring within one year) ............. 6,808

Required
Prepare a classified balance sheet in report form.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...