Current Attempt in Progress These items are taken from the financial statements of Blossom Company at December 31, 2022. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Insurance expense Depreciation expense Interest expense Common stock Retained earnings January 1, 2022) Accumulated depreciation-buildings Accounts payable Notes payable Accumulated depreciation-equipment Interest payable Service revenue $107,916 12,852 3,264 12,077 84,048 62,424 796 5,406 2,652 61,200 40,801 46,512 9,690 95,472 19,094 3,672 14,994 Prepare a classifted balance sheet. Assume that $13,872 of the note payable will be paid in 2023. (List Current Assets in order Equipment in order of Land, Buildings and Equipment.) BLOSSOM COMPANY Balance Sheet BLOSSOM COMPANY Balance Sheet Assets Liabilities and Stockholders' Equity 0 Liabilities and Stockholders' Equity

Blossom Company Balance Sheet December 31, 2022 Assets Current assets: Cash $12,077 Accounts receivable $12,852 Prepaid insurance $3,264 Total current assets $28,193 Property, Plant & Equipment: Land $62,424 Building $107,916 Accumulated dep.-Building ($46,512) $61,404 Equipment $84,048 Accumulated dep.-Equipment ($19,094) $64,954 $188,782 Total Assets $216,975 Liabilities: Current Liabilities Accounts payable $9,690 Notes payable $13,872 Interest payable $3,672 Total current liabilities $27,234 Long term liabilities Note payable ($95472-$13872) $81,600 Total liabilities $108,834 Shareholders' Equity: Common stock $61,200 Retained earnings (W.N1) $46,941 Total stockholders' Equity $108,141 Total Liabilities and SE $216,975 _____________________________________________________ W.N 1 Income statement Revenue $14,994 Less: Expense Insurance expense ($796) Depreciation expense ($5,406) Interest expense ($2,652) Net income $6,140 Retained earnings Beginning balance $40,801 Add: Net income $6,140 Ending balance $46,941 .

Current Attempt in Progress These items are taken fro…

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Blossom Company
Balance Sheet
December 31, 2022
Assets
Current assets:
Cash		$12,077
Accounts receivable		$12,852
Prepaid insurance		$3,264
Total current assets			$28,193

Property, Plant & Equipment:
Land		$62,424
Building	$107,916
Accumulated dep.-Building	($46,512)	$61,404

Equipment	$84,048
Accumulated dep.-Equipment	($19,094)	$64,954	$188,782

Total Assets			$216,975

Liabilities:
Current Liabilities
Accounts payable		$9,690
Notes payable		$13,872
Interest payable		$3,672
Total current liabilities			$27,234

Long term liabilities
Note payable ($95472-$13872)			$81,600

Total liabilities			$108,834

Shareholders' Equity:
Common stock		$61,200
Retained earnings (W.N1)		$46,941
Total stockholders' Equity			$108,141

Total Liabilities and SE			$216,975

_____________________________________________________

W.N 1

Income statement
Revenue	$14,994
Less: Expense
Insurance expense	($796)
Depreciation expense	($5,406)
Interest expense	($2,652)

Net income	$6,140

Retained earnings
Beginning balance	$40,801
Add: Net income	$6,140
Ending balance	$46,941

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