Reference no: EM132463272
These items are taken from the financial statements of Blossom Company at December 31, 2022.
Buildings $131,192
Accounts receivable 15,624
Prepaid insurance 3,968
Cash 14,682
Equipment 102,176
Land 75,888
Insurance expense 967
Depreciation expense 6,572
Interest expense 3,224
Common stock 74,400
Retained earnings (January 1, 2022) 49,600
Accumulated depreciation-buildings 56,544
Accounts payable 11,780
Notes payable 116,064
Accumulated depreciation-equipment 23,213
Interest payable 4,464
Service revenue 18,228
Question 1: Classified balance sheet. Assume that $16,864 of the note payable will be paid in 2023. (List Current Assets in order of liquidity and Property, Plant and Equipment in order of Land, Buildings and Equipment.)
Attachment:- classified balnced sheet.rar
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