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Prepare a classified balance sheet

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Reference no: EM131806255

These items are taken from the financial statements of Wildhorse Co. at December 31, 2017.

Buildings $118,496
Accounts receivable 14,112
Prepaid insurance 3,584
Cash 13,261
Equipment 92,288
Land 68,544
Insurance expense 874
Depreciation expense 5,936
Interest expense 2,912
Common stock 67,200
Retained earnings (January 1, 2017) 44,801
Accumulated depreciation-buildings 51,072
Accounts payable 10,640
Notes payable 104,832
Accumulated depreciation-equipment 20,966
Interest payable 4,032
Service revenue 16,464

Prepare a classified balance sheet. Assume that $15,232 of the note payable will be paid in 2018. (List current assets in order of liquidity and property plant and equipment in order of land, buildings and equipment.)
what is the retained earnings

Reference no: EM131806255

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