5/47283/assignments/5272958?module_item_id=16225466 Sunland Company has decided to expand its operations. The bookkeeper recently completed the following balance sheet in order to obtain additional funds for expansion. SUNLAND COMPANY BALANCE SHEET FOR THE YEAR ENDED 2020 Current assets $239,500 349,500 410,500 149,500 579,500 169,500 184,500 Cash Accounts receivable (net) Inventory (lower-of-average-cost-or-market) Equity investments (marketable)-at cost (fair value $129.500) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash surrender value of life insurance Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Premium on bonds payable Long-term liabilities Bonds payable Stockholders' equity 89.500 99,500 21,500 144,500 134,500 91.500 58,500 62.500 509.500 509,500 Long-term liabilities Bonds payable Stockholders' equity Common stock, $1.00 par, authorized 400,000 shares, issued 299,500 Additional paid-in capital Retained earnings 299,500 169,500 ? Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $169,500 and for the equipment, $114,500. The allowance for doubtful accounts has a balance of $26,500. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) SUNLAND COMPANY Balance Sheet Assets $ $ Assets $ >