Presented below are selected accounts of Yasunari Kawabata Company at December 31, 2008.

The following additional information is available.
1. Inventories are valued at lower of cost or market using LIFO.
2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $50,600.
3. The short-term investments have a fair value of $29,000. (Assume they are trading securities.)
4. The notes receivable are due April 30, 2010, with interest receivable every April 30. The notes bear interest at 12%.
5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $50,000 are pledged as collateral on a bank loan.
6. Licenses are recorded net of accumulated amortization of $14,000.
7. Treasury stock is recorded at cost.

Instructions
Prepare the current assets section of Yasunari Kawabata Company's December 31, 2008, balance sheet, with appropriatedisclosures.

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$ 52,000 90,000 253,000 34,000 37,000 31,000 36,000 50,000 Finished Goods Revenue Received in Advance Cost of Goods Sold Notes Receivable Accounts Receivable Raw Materials Supplies Expense Allowance for Doubtful Accounts $2,100,000 40,000 161,000 207,000 60,000 12,000 18,000 88,000 22,000 Work-in-Process Short-term Investments in Stock Cash Restricted for Plant Expansion Additional Paid-in Capital Treasury Stock