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Presented below is the balance sheet of Sargent Corporation for the current year, 2017 PINA CORPORATION BALANCE SHEE DECEMBER 31, 2017 Current assets Investments Property, plant, and equipment Intangible assets $489,470 Current liabilities $384,470 1,004,470 1,774,470 53,163,410 644,470 Long-term liabilities 1,724,470 Stockholders' equity 305,000 $3,163,410 The following information is presented. 1. The current assets section includes cash $154,470, accounts receivable $174,470 less $14,470 for allowance for doubtful accounts, inventories $184,470, and unearned rent revenue $9,470. Inventory is stated on the lower-of-FIFO-cost-or-market. The investments section includes the cash surrender value of a life insurance contract $44,470; investments in common stock, short-term $84,470 and long-term $274,470; and bond sinking fund $241,060. The cost and fair value of investments in common stock are the same. 2. Property, plant, and equipment includes buildings $1,044,470 less accumulated depreciation $364,470, equipment $454,470 less accumulated depreciation $184,470, land $504,470, and land held for future use $270,000 3. 4. Intangible assets include a franchise $169,470, goodwill $104,470, and discount on bonds payable $31,060. 5. Current labilities include accounts payable $144,470, notes payable-short-term $84,470 and long-term $124,470, and income taxes payable $31,060 6. Long-term liabilities are composed solely of 7% bonds payable due 2025. 7. Stockholders' equity has preferred stock, no par value, authorized 200,000 shares, issued 74,470 shares for $446,820, and common stock, $1.00 par value, authorized 400,000 shares, issued 104,470 shares at an average price of $10. In addition, the corporation has retained earnings of $282,950 Prepare a balance sheet in good form, adjusting the amounts in each balance sheet classificaio as affected by the information given above. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only ad do not provide the descriptive information provided in the question.) PINA CORPORATION Balance Sheet Assets