The following items were taken from the financial statements of pina colada company. (all amounts are in thousands.)long-term debt $1,000 accumulated depreciation—equipment $5,100 prepaid insurance 750 accounts payable 1,400 equipment 11,800 notes payable (due after 2020) 500 stock investments (long-term) 300 common stock 10,750 debt investments (short-term) 3,500 retained earnings 3,100 notes payable (due in 2020) 400 accounts receivable 2,200 cash 2,200 inventory 1,500 prepare a classified balance sheet in good form as of december 31,2019.

2019Balance Sheet

$2,200,000Cash

$2,200,000Accounts Receivable

$750,000Prepaid Insurance

$3,500,000Debt Investment

$1,500,000Inventory

$10,150,000  TOTAL CURRENT ASSETS  

$11,800,000Equipment

-$5,100,000Accum Depreciation

$300,000Stock Investment

$7,000,000  TOTAL NONCURRENT ASSETS  

$17,150,000  TOTAL ASSETS  

$1,400,000  Accounts Payable  

$400,000  Notes Payable  

$1,800,000  TOTAL CURRENT LIABILITIES  

$500,000  Notes Payable  

$1,000,000  Long Term Debt  

$1,500,000  TOTAL NONCURRENT LIABILITIES  

$3,300,000  TOTAL LIABILITIES  

$10,750,000  Common Stock  

$3,100,000  Retained Earnings  

$13,850,000  TOTAL EQUITY  

$17,150,000  TOTAL EQUITY + LIABILITIES  

Explanation:

Account of Current Assets , the criteria is to have a liquidity speed less of one year

Cash

Accounts Receivable

Prepaid Insurance

Debt Investment

Inventory

Account of Non Current Assets , the criteria is to have a liquidity speed more than one year and are known as fixed assets

Equipment

Accum Depreciation

Stock Investment

Account of Current Liabilities , the criteria is to have a liquidity speed less of one year

Accounts Payable  

Notes Payable Short Term  

Account of Non Current Liabilities, the criteria is to have a liquidity speed more than one year and are known as long term financing

Notes Payable Long Term  

Long Term Debt  

Account of Total Equity

Common Stock  

Retained Earnings  

if you use only 25 for your entertainment and only 200 for the groceries that you really need and take out the 50 per month for the computer then that should be enough