For the preceding items, (*) indicates that the item is current in nature, while (**) indicates that… 1 answer below »
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La-Z-Boy Inc. is one of the world’s largest manufacturers of furniture that is best known for its reclining chairs. The following data (in thousands) were adapted from the 2001 annual report of La-Z-Boy Inc.:
Accounts payable
$ 92,830
Accounts receivables
380,867
Accumulated depreciation
252,027
Capital stock
267,530
Cash
23,565
Income taxes payable*
$ 11,490
Intangible assets
247,422
Inventories
257,887
Long-term debt*
5,304
Long-term debt**
196,923
Other assets*
46,457
Other assets**
35,964
Other liabilities*
51,361
Other long-term liabilities**
80,519
Notes payable*
10,380
Payroll payable*
78,550
Property, plant, and equipment
482,368
Retained earnings
427,616
For the preceding items, (*) indicates that the item is current in nature, while (**) indicates that the item is long-term in nature. Prepare a classified balance sheet as of April 28, 2001.
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