For the preceding items, (*) indicates that the item is current in nature, while (**) indicates that… 1 answer below »

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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