2: (17 MARKS) The bookkeeper for Baghdad, Inc., reports the following balance sheet amounts as of Dec. 31,2018. Current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . $295,300 Current liabilities 167,420 Other liabilities 200,000 Owners' equity 558,480 A review of account balances reveals the following data: (a) An analysis of current assets discloses the following: Cash $59,500 Investment securities-trading 40,000 Accounts receivable 68,300 Inventories, including advertising supplies of $3,500 127,500 $295,300 (b) Other assets include the following: Property, plant, and equipment: Depreciated book value (cost, $775,000).$554,500 Deposit with a supplier for merchandise ordered for August delivery . . . . . . 10,700 Goodwill recorded on the books to cancel losses incurred by the company in prior years 65,400 $630,600 (c) Current liabilities include the following: Payroll payable $12,550 Taxes payable 8,870 Rent payable .7,700 Accounts payable: Total owed to suppliers on account $111,300 Less: Six-month note received from a supplier who purchased some used equipment on Dec. 29,2018 .5,000106,300 Notes payable (d) Other liabilities include the following: 10% mortgage on property, plant, and equipment, payable in semiannual installments of $20,000 through Dec. 31,2020 $200,000 (e) Owners' equity includes the following: Preferred stock: 15,000 shares outstanding ( $20 par value) $300,000 Common stock: 175,000 shares at $1 stated value 175,000 Additional paid-in capital 83,480558,480 (f) Common shares were originally issued for $495,000, but the losses of the company for the past years were charged against additional paid-in capital. equired: prepare a corrected financial position statement showing individual asset, liability, and ouners' uity balances properly classified