The following items were taken from the financial statements of M. Wright Company. (All dollars are in thousands.)
- Long-term debt $812 Accumulated depreciation $5,427
- Prepaid expenses 867 Accounts payable 1,221
- Property, plant, and equipment 11,183 Notes payable after 2013 203
- Long-term investments 257 M. Wright, Capital 12,836
- Short-term investments 3,420 Accounts receivable 1,289
- Notes payable in 2013 430 Inventories 1,615
- Cash 2,298
Instructions
Prepare a classified balance sheet in good form as of December 31, 2012. (List assets in order of liquidity. List current liabilities from largest to smallest e.g. 10, 5, 3, 2, with notes payable first and long-term liabilities from largest to smallest e.g. 10, 5, 3, 2. Present all numbers as positive and subtract as necessary.)