(Solved): Exercise 11-16 (Static) Preparing a classified balance sheet LO C2, C3, P1, P3 Prepare a class ...

Exercise 11-16 (Static) Preparing a classified balance sheet LO C2, C3, P1, P3 Prepare a classified balance sheet for Tucson Company for the year ended December 31 using the following data. Note: Amounts to be deducted should be indicated by a minus sign. \begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ TUCSON COMPANY } \\ \hline \multicolumn{1}{|c|}{ Balance Sheet } \\ \hline December 31 \\ \hline Assets \\ \hline Current assets & \\ \hline & \\ \hline Total current assets & \\ \hline Plant assets & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Total current liabilities } & \\ \hline Long-term liabilities & \\ \hline Total liabilities & Equity \\ \hline & & \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular}