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The Following Items Were Taken from the Financial Statements of Buttercup

Question 218

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The following items were taken from the financial statements of Buttercup Company. (All dollars are in thousands.)  Mortgage payable $2,443 Accumulated depreciation 3,655 Prepaid insurance 880 Accounts payable 1,444 Property, plant, and equipment 11,500 Notes payable after 2019 1,200 Long-term investments 1,100 Common stock 5,000 Short-term investments 3,690 Retained earnings 8,480 Notes payable in 20191,000 Accounts receivable 1,696 Cash 2,600 Inventories 1,756\begin{array} { l r l r } \text { Mortgage payable } & \$ 2,443 & \text { Accumulated depreciation } & 3,655 \\\text { Prepaid insurance } & 880 & \text { Accounts payable } & 1,444 \\\text { Property, plant, and equipment } & 11,500 & \text { Notes payable after 2019 } & 1,200 \\\text { Long-term investments } & 1,100 & \text { Common stock } & 5,000 \\\text { Short-term investments } & 3,690 & \text { Retained earnings } & 8,480 \\\text { Notes payable in } 2019 & 1,000 & \text { Accounts receivable } & 1,696 \\\text { Cash } & 2,600 & \text { Inventories } & 1,756\end{array} Instructions
Prepare a classified balance sheet in good form as of December 31, 2018.

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