Question

Current Attempt in Progress The following items are taken from the financial statements of Wildhorse Co. at December 31, 2022. Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation-buildings Accounts payable Mortgage payable Accumulated depreciation equipment Interest payable Income taxes payable Patents Investments in stock (long-term) Debt investments (short-term) $196,400 22,700 9,500 11,850 82,800 262,200 46,200 5,700 13,000 74,500 513,000 32,700 9,700 80,250 19,000 3,900 14,700 46,900 72,100 4.400 Prepare a classified balance sheet. Assume that $10,000 of the mortgage payable will be paid in 2023. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings, Equipment and Land Improvements.)

The two photos are connected. Please help

Answer 1

WILDHORSE CO. Balance Sheet December 31,2022 (In millions) Assets Current assets : Cash $ 11,850 Accounts Receivables $ 22,700 Supplies $ 9,500 Debt Investment $ 4,400 Notes Receivable $ 5,700 Total Current assets $ 54,150 Investment Investment in Stock $ 72,100 Property, plant and Equipment Land $196,400 Land Improvemnet $ 46,200 Less: accumulated Depreciation - Land Improvements $ 13,000$ 33,200 Equipment $ 82,800 Less: accumulated depreciation - Equipment $ 19,000 $ 63,800 Buildings $ 262,200 Less: Accumulated Depreciation - Buildings $ 32,700 $229,500 $ 522,900 Intangible Assets Patent $ 46,900 Total Assets $696,050

$ 9,700 $ 10,000 $ 3,900 $ 14,700 $ 38,300 Liabilities and Stockholdes' Equity Current Liabilities Accounts Payable Current portion of Mortagage Payable Interest Payable Income Tax Payable Total current liabilities Long term liabilities Mortagage Payable Total Liabilities Stockholders' Equity Common stock Retained Earnings Total stockholders Equity Total Liabilities and Shareholders Equity $ 70,250 $ 108,550 $ 74,500 $513,000 $587,500 $696,050