Following is a list of items taken from the December 31, 2017, balance sheet of...
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Accounting
Following is a list of items taken from the December 31, 2017, balance sheet of Reagan Company (amounts omitted):
Accounts payable
Goodwill
Accrued expenses
Income taxes payable
Accumulated depreciationbuildings
Land
Accumulated depreciationmachinery and equipment
Machinery and equipment
Bonds payable
Notes payable to banks (short term)
Buildings
Preferred stock
Cash
Prepaid expenses
Common stock
Raw materials
Contributed capital in excess of par
Retained earnings
Current portion of long-term debt
Short-term investments
Deferred tax liability (noncurrent)
Trade accounts receivable
Finished products inventory
Trademarks
Work-in-process inventory
Required: Using the above information, prepare a classified balance sheet in good form. Reagan Company Balance Sheet As of December 31, 2017 Liabilities and Stockholders' Equity Current liabilities: Assets Current assets: ... . .. .... Inventories: Total current liabilities Long-term liabilities Total current assets Plant assets: Total liabilities Stockholders' equity: Intangible assets: Total stockholders' equity Total liabilities and stockholders' equity Total assets
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