Question

The following is December 31, 2018, post-closing trial balance for Almway corporation.

Account Title	Debits		Credits
Cash	45,000
Investments	110,000
Accounts receivable	60,000
Inventories	200,000
Prepaid insurance (for the next 9 months)	9,000
Land	90,000
Buildings	420,000
Accumulated depreciation—buildings			100,000
Equipment	110,000
Accumulated depreciation—equipment			60,000
Patents (net of amortization)	10,000
Accounts payable			75,000
Notes payable			130,000
Interest payable			20,000
Bonds Payable			240,000
Common stock			300,000
Retained earnings			129,000
Totals	1,054,000		1,054,000

Additional information:

1. The investment account includes an investment in the common stock of another corporation of $30,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year.

2. The land account includes land which costs $25,000 that the company has not used and is currently listed for sale.

3. The cash account includes $15,000 restricted in a fund to pay bonds payable that mature in 2021 and $23,000 restricted in a three-month Treasury bill.

4. The notes payable account consists of the following:

A) a $30,000 note due in six months.

B) a $50,000 note due in six years.

C) a $50,000 note due in five annual installments of $10,000 each, with the next installment due February 15, 2019.

5. The $60,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $8,000.

6. The common stock account represents 100,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized.

Required
Prepare a classified balance sheet for the Almway Corporation at December 31, 2018.