$ 125,000 177,591 300,000 Discount on bonds payable 15,000 Cash P4.2 (LO 1) Excel (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2025. Goodwill Payroll taxes payable Bonds payable Accumulated depreciation-equipment Inventory Rent payable (short-term) Income taxes payable $292,000 239,800 45,000 98,362 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock, $1 par value 200,000 Notes receivable 445,700 Preferred stock, $10 par value 150,000 87,920 Notes payable (to banks) 265,000 Prepaid expenses Accounts payable 1,470,000 490,000 Equipment Retained earnings ? Debt investments (trading) 121,000 Income taxes receivable 97,630 Notes payable (long-term) 1,600,000 Accumulated depreciation-buildings Buildings 270,200 1,640,000 Instructions Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and pre- ferred 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. & Fast