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The following information is available for The Eagles Company for the year ended December 31, 2020:
Accounts payable 10,000
Stock investments (long-term) 11,000
Accumulated depreciation, building 5,000
Retained earnings 19,000
Common stock 8,000
Intangible assets 4,500
Notes payable (due in 5 years) 110,000
Accounts receivable 3,600
Cash 4,400
Debt investments (short-term) 3,000
Land 20,000
Building 105,500
Instructions
Problem 1: Use the above information to and prepare a classified balance sheet for the year ended December 31, 2020.
Financial Statement Analysis and Preparation
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