Chapter 3, Problem 3.2P

Balance sheet preparation; missing elements

• LO3–2, LO3–3

The data listed below are taken from a balance sheet of Trident Corporation at December 31, 2018. Some amounts, indicated by question marks, have been intentionally omitted.

	($ in thousands)
Cash and cash equivalents	$ 239,186
Short-term investments	353,700
Accounts receivable (net of allowance)	504,944
Inventories	?
Prepaid expenses (current)	83,259
Total current assets	1,594,927
Long-term receivables	110,800
Property and equipment (net)	?
Total assets	?
Notes payable and short-term debt	31,116
Accounts payable	?
Accrued liabilities	421,772
Other current liabilities	181,604
Total current liabilities	693,564
Long-term debt and deferred taxes	?
Total liabilities	956,140
Shareholders’ equity	1,370,627

Required:

1. Determine the missing amounts.

2. Prepare Trident’s classified balance sheet.