The December postclosing trial balance $ in thousands for Libby Corporation is presented below:
tableDebits,CreditsCashLongterm investments,Accounts receivable,Allowance for uncollectible accounts,,Prepaid insurance,InventoryLandBuildingsAccumulated depreciationbuildings,,EquipmentAccumulated depreciationequipment,,Patents unamortized balanceAccounts payable,,Notes payable, due Interest payable,,Bonds payable, due tableCommon stock no par sharesauthorized issued, and outstandingRetained earnings,,Totals
Required:
Prepare a classified balance sheet for Libby Corporation on December
Note: Enter your answers in the order of their liquidity. Negative amounts should be entered by a minus sign. Enter your answers in thousands of dollars.
i
Total current assets
Property, plant, and equipment
Total current liabilities
Liabilities and Shareholders' Equity
Current liabilities
