The following items were taken from the financial statements of D. Gygi Company. (All amounts are in thousands.) Long-term debt $1,000 Accumulated depreciation—equipment $5,655 Prepaid insurance 880 Accounts payable 1,444 Equipment 11,500 Notes payable (due after 2020) 400 Stock investments (long-term) 264 Common stock 10,000 Debt investments (short-term) 3,690 Retained earnings 2,955 Notes payable (due in 2020) 500 Accounts receivable 1,696 Cash 2,668 Inventory 1,256 Prepare a classified balance sheet in good form as of December 31, 2019. (Enter amounts in thousands. List Current Assets in order of liquidity.)
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The following items were taken from the financial statements of D. Gygi Company. (All amounts are in thousands.)
| Long-term debt | $1,000 | $5,655 | ||||
| Prepaid insurance | 880 | Accounts payable | 1,444 | |||
| Equipment | 11,500 | Notes payable (due after 2020) | 400 | |||
| Stock investments (long-term) | 264 | Common stock | 10,000 | |||
| Debt investments (short-term) | 3,690 | 2,955 | ||||
| Notes payable (due in 2020) | 500 | Accounts receivable | 1,696 | |||
| Cash | 2,668 | Inventory | 1,256 |
Prepare a classified balance sheet in good form as of December 31, 2019. (Enter amounts in thousands. List Current Assets in order of liquidity.)
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