ACCOUNTING ASSIGNMENT #3 PA1. LO 11.1Selected accounts from Phipps Corporation's trial balance are as follows. Prepare the assets section of the company's balance sheet. PHIPPS CORPORATION Trial Balance December 31 (Selected Accounts) Credit Short-term Marketable Securities Accounts Receivable Inventories Other current Assets Land Equipment Accumulated Depreciation: Equipment Goodwill Other Intangible Assets Debit $ 50,000 25,000 13,000 45,000 10,000 100,000 45,000 $5,000 20.000 15,000