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Problem 2-02A (Part Level Submission) These items are taken from the financial statements of Blossom Company for 2022. Retain
(a3) Your answer is partially correct. Try again. Prepare a classified balance sheet as of December 31, 2022. (List Current A
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Answer #1

BLOSSOM COMPANY

Balance Sheet

December 31

Assets
Current assets
Cash 11100
Account receivable 12700
Supplies 3000
Prepaid insurance 4500
Total Current assets 31300
Long term investment
Debt investment 5500
Property, plant and equipment
Equipment 67000
Less: Accumulated depreciation -18600 48400
Other assets
Trademarks 2100
Total assets 87300
Liabilities and stockholder's equity
Current liabilities
Account payable 19900
Salaries and wages payable 4000
Total Current liabilities 23900
Stockholder's equity
Common stock 22000
Retained earnings 41400
Total Stockholder's equity 63400
Total liabilities and stockholder's equity 87300
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