Using the Following Data,prepare a Classified Balance Sheet as of December

Essay

Using the following data,prepare a classified balance sheet as of December 31,2010,for the Lee Company.There are 2,000 shares of $10 par value common stock issued and outstanding.
$\begin{array}{lrlr}\text { Accounts Payable } & \$ 1,600 & \text { Accounts Receivable } & 3,000 \\\text { Building Not Currently Used } & 19,000 & \text { Cash } & 5,200 \\\text { Accumulated Depreciation, } & 8,000 & \text { Unearned Revenue } & 800 \\\text { Equipment } & & &\\& & \text { Short-Term Investments } & 2,000 \\\text { Common Stock } & 20,000 & \text { Land } & 16,000 \\\text { Retained Earnings } & 22,600 & \text { Equipment } & 15,000 \\\text { Copyright } & 5,000 & \text { Long-Term Investments } & 800 \\\text { Bonds Payable (due in } 20 & 13,000 & & \\\text {years) } & & & \end{array}$