10 Nov The following items were taken from the financial
The following items were taken from the financial statements of M. Wright Company. (All dollars are in thousands.) Long-term debt $ 1,000 Accumulated depreciation 5,655 Prepaid insurance 880 Accounts payable 1,444 Equipment 11,500 Notes payable (due after 2013) 400 Long-term investments 264 Owner’s capital 12,955 Short-term investments 3,690 Accounts receivable 1,696 Notes payable (due in 2013) 500 Inventory 1,256 Cash $ 2,668InstructionsPrepare a classified balance sheet in good form as of December 31, 2012.
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