The accountant for Travis Corporation made the given list of account balances from the company's records for the year ended December 31, 2012:
Sales revenue 165,000 Cash 30,000
Accounts receivable 14,000 Selling expenses 40,000
Equipment, net 42,000 Common stock 41,000
Accounts payable 12,000 Interest income 3,000
Salaries & wages expense 40,000 Cost of Sales 51,000
Inventories 22,000 Prepaid expenses 2,000
Income taxes payable 5,000 Income taxes expense 18,000
Notes payable, due 2014 20,000 Retained earnings 32,000
Required:
Make a classified balance sheet for the Travis Corporation in good form.