(50 points) Prepare Balance Sheet for Los Gatos Corporation at December 31, 2013 according to the given information. Cash 40,000 Accounts receivable 80,000 Inventories 55,000 Machinery (net) 120,000 Franchise (net) 30,000 Total assets 320,000 Accounts payable 50,000 Allowance for uncollectible acc. 5,000 Note payable 55,000 Bonds payable 110,000 Shareholders' equity 105,000 Total liabilities and equity 320,000 1. Cash includes a $25,000 bond sinking fund to be used for repayment of the bonds payable in 2017 2. The cost of the machinery is $172,000. 3. A/R includes a $20,000 note receivable from a customer due in 2016. 4. The note payable includes accrued interest of $6,000. Principal and interest are both due on February 1, 2014. 5. The company began operations in 2008. Income less dividends since inception of the company totals $48,000. 6.50,000 shares of no par common stock were issued in 2008. 100,000 shares are authorized. Los Gatos Corporation Balance Sheet At December 31, 2013 Assets Current assets: Cash .1). Accounts receivable, net of allowance for uncollectible accounts of $5,000... 2). 3) 4). Total current assets 125.000 Investments: Bond sinking fund 5) 6) .7) Total investments 45,000 Property, plant, and equipment: 8). 9) Less: 10) - 11). Net property, plant, and equipment ...... 120,000 Intangible assets: 12) 30,000 Total assets $320,000 Liabilities and Shareholders' Equity Current liabilities: Accounts payable 13) 14). 15) Notes payable........ 16). Total current liabilities...... 105,000 Long-term liabilities: Bonds payable 17) Shareholders' equity: Common stock, no par value; 100,000 shares authorized; 50,000 shares issued and 18) outstanding..... 19). 20) Total shareholders' equity.............. 105,000 Total liabilities and shareholders' equity $320,000