$200,000 was credited to Retained Earnings. Note 3: Notes payable are long-term except for the current installment due of $125,000. 09 instructio Prepare corrected classified balance sheet in good form. The notes above are for information only. P5-58 (Lo3) (Balance Sheet Adjustment and Preparation) Presented below is the balance sheet of Barbie Corporatien for the c rrent year, 2017. BARBIE CORPORATION BALANCE SHEET DECEMBER 31, 2017 S 685,000 1,500,000 1,604,000 $3,789,000 $ 865,000 Current liabilities Current assets Investments Property, plant, and equipment Intangible assets 520,000Long-term liabilities 1,650,000Stockholders' equity 754,000 $3,789,000 The following information is presented. 1. The current assets section includes: cash $71,000, accounts receivable $363,000 less $21,000 for allowance for doubtful accounts, inventories $488,000, and unearned revenue $36,000. Inventories are stated on the lower-of-average-cost-or- market. 2. The investments section includes: the cash surrender value of a life insurance contract $120,000; investments in comm stock, short-term (trading) $210,000 and long-term (available-for-sale) $90,000; and bond sinking fund $100,000. The cost and fair value of investments in common stock are the same