Exercise 8-23 (Algo) Preparing a balance sheet LO P1, P3, P4 Selected accounts from Gregor Co's adjusted trial balance for the year ended December 31 follow. Prepare a clossified balance sheet Note: On the company's bolance sheet, accumulated depreciation is subtracted from equipment, sccumulated amortization is subtracted from patents, and accumulated depletion is subtracted from silver mine. Accounts payable Accurulated depreciation Equipnent Nates payable (due in 9 years) Goodwill Accumulated depletion-silver mine Accurulated anortization-Patents Conmon stock $49,588 $ 3,920 Retained carnings 19,see 7,800 30,180 38,0e0 6,9ee 6, 8ee Patents 7,900 49, 800 39,000 34,000 Cash Land Equipment silver mine 4,8ee GREGOR CO. Balance Sheet December 31 ABseta Current assets Cash 7,900 Plant assets Total plant assets Intangible assets Total intangible assets Total assets 7,900 Llablities Current liabilities Long-term liabilities Total liablities Equity Total liablities and equity

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