Question & Answer: The following is a December 31, 2016, post-closing trial balance for the Jackson Corporation. Credits Debits 44,000 38,000 79,000 20,000 14,00…..

The following is a December 31, 2016, post-closing trial balance for the Jackson Corporation. Credits Debits 44,000 38,000 79,000 20,000 14,000 165,000 Account Title Cash Accounts receivable Inventories Prepaid rent Marketable securities (short term) Machinery Accumulated depreciation-machinery Patent (net of amortization) Accounts payable Wages payable Taxes payable Bonds payable (due in 10 years) Common stock Retained earnings 15,000 83,000 10,000 6,000 36,000 180,000 140,000 56,000 443,000 443,000 Totals Required: Prepare a classified balance sheet for Jackson Corporation at December 31, 2016. (Amounts to deducted should be indicated by a minus sign.)