The following information was obtained from the accounts of Airlines International dated December 31, 2008. It is presented in alphabetical order.
|
Accounts payable
|
$ 77,916
|
|
Accounts receivable
|
67,551
|
|
Accrued expenses
|
23,952
|
|
Accumulated depreciation
|
220,541
|
|
Allowance for doubtful accounts
|
248
|
|
Capital in excess of par
|
72,913
|
|
Cash
|
28,837
|
|
Common stock (par $0.50, authorized 20,000
|
|
|
shares, issued 14,304 shares)
|
7,152
|
|
Current installments of long-term debt
|
36,875
|
|
Deferred income tax liability (long term)
|
42,070
|
|
Inventory
|
16,643
|
|
Investments and special funds
|
11,901
|
|
Long-term debt, less current portion
|
393,808
|
|
Marketable securities
|
10,042
|
|
Other assets
|
727
|
|
Prepaid expenses
|
3,963
|
|
Property, plant, and equipment at cost
|
809,980
|
|
Retained earnings
|
67,361
|
|
Unearned transportation revenue (airline
|
|
|
tickets expiring within one year)
|
6,808
|
|
|
Required:
Prepare a classified balance sheet in report form.