2. Prepare a corrected balance sheet including notes). Consider formatting, terminology deficiencies, and classification inaccuracies in your corrections. Core Industries, Inc. Balance Sheet For the Period Ended 12/31/17 Assets Fixed Assets Tangible Equipment 110,000 Less: reserve for depreciation 40.000) S 70,000 Factory supplies Land and buildings 400,000 Less: reserve for depreciation 50.000) 250,000 Plant site held for future use 22,000 90,000 432,000 Current Assets 175,000 Accounts receivable Cash Inventory Treasury stock (at cost) 80,000 220,000 20.000 495,000 Fixed Assets--Intangible 40 Goodwill Notes receivable Patents 80,000 26.000 146,000 Deferred Charges Advances to salespersons Prepaid rent Returnable containers 60,000 27,000 TOTAL ASSETS Current Liabilities Accounts payable Allowance for doubtful accounts Common stock dividend distributable Income tax payable Sales tax payable S140,000 8,000 35,000 42,000 17000 S 242,000 Long-term Liabilities, 5% debenture bonds, due 2020 Reserve for contingencies 500,000 50,000650,000 TOTAL LIABILITIES Equity Capital stock, S10 par value, issued 12,000 shares with $150,000 60 shares held as treasury stock Capital surplus Dividends paid Earned surplus 90,000 (20,000) TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 343,000 $1.235.000 Note 1.The reserve for contingencies has been created by charges to