Question

The following information is available for Optimist Company for the year ended December 31, 2011:      ...

The following information is available for Optimist Company for the year ended December 31, 2011:                              
   Accounts payable $2,700                   
   Accumulated depreciation, equipment       4,000                  
   Common stock 3,800                  
   Retained earnings 4,000                  
   Copyrights 2,500                  
   Notes payable (due in 5 years) 7,500                  
   Accounts receivable 1,500                  
   Cash 2,600                  
   Short-term investments 1,000                  
   Equipment 7,500                  
   Investment in long-term bonds 6,900                  
                              
Instructions                              
Use the above information to prepare a classified balance sheet for the year ended December 31, 2011.                              

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