Presented below are a number of balance sheet items for Pina, Inc., for the current year, 2017.
Goodwill $ 129,340
Accumulated Depreciation-Equipment $ 292,330
Payroll Taxes Payable 181,931 Inventory 244,140
Bonds payable 304,340
Rent payable (short-term) 49,340
Discount on bonds payable 15,330 Income taxes payable 102,702
Cash 364,340
Rent payable (long-term) 484,340
Land 484,340
Common stock, $1 par value 204,340
Notes receivable 450,040
Preferred stock, $10 par value 154,340
Notes payable (to banks) 269,340 Prepaid expenses 92,260
Accounts payable 494,340 Equipment 1,474,340
Retained earnings ?
Debt investments (trading) 125,340
Income taxes receivable 101,970 Accumulated Depreciation-Buildings 270,530
Notes payable (long-term) 1,604,340 Buildings 1,644,340
Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same. (List Current Assets in the order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment.)
