Presented below is the balance sheet of Bellemy Brothers Corporation (000s omitted).

Instructions
Evaluate the balance sheet presented. State briefly the proper treatment of any itemcriticized.

Transcribed Image Text:

Finished Goods Revenue Received in Advance 52,000 90,000 253,000 34,000 37,000 31,000 36,000 50,000 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