Presented below is the trial balance of Vivaldi Corporation at December 31, 2010.
Debit | Credits | ||
Cash | $197,000 | ||
Sales | $7,900,000 | ||
Trading securities (at cost, $145,000) | 153,000 | ||
Cost of goods sold | 4,800,000 | ||
Long-term investments in bonds | 299,000 | ||
Long-term investments in stocks | 277,000 | ||
Short-term notes payable | 90,000 | ||
Accounts payable | 455,000 | ||
Selling expenses | 2,000,000 | ||
Investment revenue | 63,000 | ||
Land | 260,000 | ||
Buildings | 1,040,000 | ||
Dividends payable | 136,000 | ||
Accrued liabilities | 96,000 | ||
Accounts receivable | 435,000 | ||
Accumulated depreciation-Buildings | 352,000 | ||
Allowance for doubtful accounts | 25,000 | ||
Administrative expenses | 900,000 | ||
Interest expense | 211,000 | ||
Inventories | 597,000 | ||
Extraordinary gain | 80,000 | ||
Long-term notes payable | 900,000 | ||
Equipment | 600,000 | ||
Bonds payable | 1,000,000 | ||
Accumulated depreciation-Equipment | 60,000 | ||
Franchise (net of $80,000 amortization) | 160,000 | ||
Common stock ($5 par) | 1,000,000 | ||
Treasury stock | 191,000 | ||
Patent (net of $30,000 amortization) | 195,000 | ||
Retained earnings | 78,000 | ||
Additional paid-in capital |
80,000 |
||
$12,315,000 |
$12,315,000 |
Prepare a balance sheet at December 31, 2010, for Vivaldi Corporation. Ignore income taxes. (List liabilities, long-term investments, and intangible assets from largest to smallest amount, e.g. 10, 5, 3.)