The following information was obtained from the accounts of Lukes, Inc. as of December 31, 2000. It is presented in scrambled order. Common stock, no par value, 10,000 shares
|
authorized, 5,724 shares issued |
$ 3,180 |
|
Retained earnings |
129,950 |
|
Deferred income tax liability (long term) |
24,000 |
|
Long-term debt |
99,870 |
|
Accounts payable |
35,000 |
|
Buildings |
75,000 |
|
Machinery and equipment |
300,000 |
|
Land |
11,000 |
|
Accumulated depreciation |
200,000 |
|
Cash |
3,000 |
|
Receivables, less allowance of $3,000 |
58,000 |
|
Accrued income taxes |
3,000 |
|
Inventory |
54,000 |
|
Other accrued expenses |
8,000 |
|
Current portion of long-term debt |
7,000 |
|
Prepaid expenses |
2,000 |
|
Other assets (long term) |
7,000 |
Required Prepare a classified balance sheet in report form. For assets, use the classifications of current assets, plant and equipment, and other assets. For liabilities, use the classifications of current liabilities and long-term liabilities.