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The following is the ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation.

Account Title	Debits			Credits
Cash		83,000
Short-term investments		198,000
Accounts receivable		139,000
Long-term investments		43,000
Inventory		223,000
Receivables from employees		48,000
Prepaid expenses (for 2022)		24,000
Land		288,000
Building		1,630,000
Equipment		645,000
Patent (net)		160,000
Franchise (net)		48,000
Notes receivable		290,000
Interest receivable		20,000
Accumulated depreciationbuilding				628,000
Accumulated depreciationequipment				218,000
Accounts payable				197,000
Dividends payable (payable on 1/16/2022)				18,000
Interest payable				24,000
Income Taxes payable				48,000
Deferred revenue				68,000
Notes payable				316,000
Allowance for uncollectible accounts				16,000
Common stock				2,032,000
Retained earnings				274,000
Totals		3,839,000		3,839,000

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VOSBURGH ELECTRONICS CORPORATION Balance Sheet At December 31, 2021 Assets Current assets Cash and cash equivalentsselected answer correct not attempted $141,000selected answer correct not attempted not attempted 140,000selected answer correct Accounts receivableselected answer correct $139,000selected answer correct Allowance for uncollectible accountsselected answer correct (16,000)selected answer correct Net accounts receivable 123,000 Loans to employeesselected answer incorrect not attempted 123,000selected answer incorrect Interest receivableselected answer correct not attempted 200,000selected answer incorrect Notes receivableselected answer correct not attempted 58,000selected answer correct Inventoryselected answer correct not attempted 223,000selected answer correct Prepaid expensesselected answer correct not attempted 24,000selected answer correct not attempted not attempted not attempted Total current assets 1,032,000 Investments: Inventoryselected answer incorrect not attempted Bonds payableselected answer incorrect 43,000selected answer correct not attempted not attempted Total investments 43,000 Property, plant, and equipment: Landselected answer correct $288,000selected answer correct Buildingsselected answer correct 1,630,000selected answer correct Equipmentselected answer correct 645,000selected answer correct not attempted 2,563,000 Less: Accumulated depreciation-buildingsselected answer correct (628,000)selected answer correct Less: Accumulated depreciation-equipmentselected answer correct (218,000)selected answer correct Net property, plant, and equipment 1,717,000 Intangible assets: Patent (net)selected answer correct 160,000selected answer correct Franchise (net)selected answer correct 48,000selected answer correct Total intangible assets 208,000 Total assets $3,000,000 Liabilities and Shareholders' Equity Current liabilities: Accounts payableselected answer correct not attempted $197,000selected answer correct Dividends payableselected answer correct not attempted 18,000selected answer correct Interest payableselected answer correct not attempted 24,000selected answer correct Income taxes payableselected answer correct not attempted 48,000selected answer correct Deferred revenueselected answer correct not attempted 476,000selected answer incorrect not attempted not attempted not attempted Total current liabilities 763,000 Long-term liabilities: Notes payableselected answer correct $316,000selected answer correct not attempted Deferred revenueselected answer correct 20,400selected answer correct not attempted not attempted not attempted not attempted Total long-term liabilities 336,400 Total liabilities 1,099,400 Shareholders equity: Common stockselected answer correct 2,032,000selected answer correct Retained earningsselected answer correct 274,000selected answer correct not attempted not attempted Total shareholders equity 2,306,000 Total liabilities and shareholders equity $3,405,400

Additional information:

1. The common stock represents 1.2 million shares of no par stock authorized, 580,000 shares issued and outstanding.
2. The receivables from employees are due on June 30, 2022.
3. The notes receivable are due in installments of $58,000, payable on each September 30. Interest is payable annually.
4. Short-term investments consist of securities that the company plans to sell in 2022 and $58,000 in treasury bills purchased on December 15 of the current year that mature on February 15, 2022. Long-term investments consist of securities that the company does not plan to sell in the next year.
5. Deferred revenue represents payments from customer for extended service contracts. Seventy percent of these contracts expire in 2022, the remainder in 2023.
6. Notes payable consists of two notes, one for $108,000 due on January 15, 2023, and another for $208,000 due on June 30, 2024.

Required: Prepare a classified balance sheet for Vosburgh at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

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