242 Chapter 5 Balance Sheet and Statement of Cash Flows UHURA COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017 Current assets Cash Accounts receivable (net) Inventory (lower-of-avera ge-cost-or-market) Equity investments (trading)-at cost (fair value $120,000) $230,000 340000 401000 140000 Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use 570,000 160,000 175000 Intangi ble assets Goodwill Cash surrender value of life insurance Prepaid expenses 80,000 90000 12,000 Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Premium on bonds payable 135,000 125,000 82000 49000 53,000 Long term liabilities Bonds payable 500000 Stockholders equity Common stock, $1.00 par, authorized 400,000 sha res, issued 290,000 Additional paid-in capital Retained earnings 290,000 160,000 nstructions repare a revised balance sheet given the available information. Assume that the accumulated depreciation balane uildings is $160,000 and for the equipment, $1 bligation is considered a long-term liability 05,000. The allowance for doubtfulaccounts has a balance of $17,000. Th