La Z Boy Inc. is one of the world’s largest manufacturers of furniture that is best known for its reclining chairs. The following data (in thousands) were adapted from the 2004 annual report of La Z Boy Inc.:
Accounts payable …………………………………$122,576
Accounts receivable ……………………………… 337,770
Accumulated depreciation ………………………… 296,942
Capital stock ……………………………………… 269,316
Cash ………………………………………………. $ 33,882
Intangible assets …………………………………… 96,005
Inventories ………………………………………… 250,568
Debt due within one year* ………………………… 42,563
Long term debt** …………………………………. 181,807
Other assets* ……………………………………… 31,454
Other assets** …………………………………….. 85,078
Other liabilities* ………………………………….. 118,182
Other long term liabilities** ……………………… 60,040
Property, plant, and equipment …………………… 509,681
Retained earnings …………………………………. 253,012
For the preceding items, (*) indicates that the item is current in nature, while (**) indicates that the item is long term in nature. Prepare a classified balance sheet as of April 24, 2004.
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