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Prepare a classified balance sheet as of December 31, 2017. E5-12B (L03) (Preparation of a Balance Sheet) Presented below is the trial balance of Do Corporation at December 31, 2017 Credits Debits $ 98,500 $4,050,000 76,500 2,400,000 149,500 138,500 45,000 227,500 1,000,000 31,500 130,000 520,000 68,000 48,000 217,500 Cash Sales Trading Securities (at cost, $145,000) Cost of Goods Sold Long-term Investments in Bonds Long-term Investments in Stocks Short-term Notes Payable Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventories Gain on Sale of Investments Prior Period Adjustment-Depr. Error Long-term Notes Payable Equipment Bonds Payable Accumulated Depreciation Equipment Franchise (net of $80,000 amortization) Common Stock ($5 par) Treasury Stock Patent (net of $30,000 amortization) Retained Earnings Additional Paid-in Capital Totals 76,000 12,500 450,000 105,500 298,500 40,000 70,000 450,000 300,000 500,000 30,000 80,000 500,000 95,500 97,500 109,000 40,000 $6,227,500 $6,227,500
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