2. Classified Balance Sheet (18 points) Far Centre Company provided the following listing of the...
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2. Classified Balance Sheet (18 points) Far Centre Company provided the following listing of the current year's post-closing account balances. Credit Debit Solve $12,000 $ 5,600 1,000 500 46,500 3,000 8,000 Account Cash Notes payable, due in 10 years Treasury stock at cost Accumulated other comprehensive income Current portion of long-term debt Property, plant, and equipment-net Investments in affiliate companies (noncurrent) Accounts receivable Bonds payable, due in 20 years Common stock, $1 par value Investments at fair value (available for-sale) (noncurrent) Accounts payable Additional paid-in capital Dividends payable Intangible assets net Merchandise inventory Income taxes payable Retained earnings 20,000 15,000 2,100 6,200 14,800 300 4,000 5,800 1,500 6,800 Far Centre reported net income of $3,200 and declared dividends amounting to $600. Unrealized losses on the company's available-for-sale (i.e., FV-OCI) investment amounted to $400 for the current year. There are no other events that affect stockholders' equity. Required: Prepare a classified balance sheet at December 31 of the current year. (18 points)
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