The accounts of the Capitan Company are shown below:
Capitan Company
List of Accounts
December 31, 2007 Accounts Payable $20,000 Accounts Receivable 18,000 Accumulated epreciation 11,000 Capital Stock 75,000 Cash 85,000 Cost of Goods Sold 12,000 Equipment and Buildings 1,000 Inventory 15,000 Long-Term Investment 30,000 Land 27,000 Marketable Securities 3,000 Mortgage Payable 89,000 Patents 4,000 Prepaid Rent 6,000 Rent Expense 24,000 Retained Earnings ? Sales 49,000 Salary Expense 19,000 Supplies 6,000 Taxes Payable 11,000 Unearned Revenue 19,000
Required:
Prepare in good form a classified balance sheet at December 31, 2007, for the Capitan Company.
Assume that no dividends were declared during 2007.
