The following information was obtained from the accounts of Lukes, Inc., as of December 31, 2008. It is presented

The following information was obtained from the accounts of Lukes, Inc., as of December 31, 2008. It is presented in scrambled order.

Common stock, no par value, 10,000 shares

     authorized, 5,724 shares issued                      $ 3,180

Retained earnings                                              129,950

Deferred income tax liability (long term)                 24,000

Long-term debt                                                   99,870

Accounts payable                                               35,000

Buildings                                                            75,000

Machinery and equipment                                  300,000

Land                                                                  11,000

Accumulated depreciation                                  200,000

Cash                                                                   3,000

Receivables, less allowance of $3,000                   58,000

Accrued income taxes                                           3,000

Inventory                                                             54,000

Other accrued expenses                                        8,000

Current portion of long-term debt                             7,000

Prepaid expenses                                                 2,000

Other assets (long term)                                        7,000

Required:

Prepare a classified balance sheet in report form. For assets, use the classifications of current assets, plant and equipment, and other assets. For liabilities, use the classifications of current liabilities and long-term liabilities.