As the recently hired controller for Lynbrook Manufacturing, Inc., you were given the following Balance Sheet prepared by a staff accountant.

Analyze the above material and prepare a properly classified balance sheet as of December 31, 2019.

Lynbrook Manufacturing, Inc. Balance Sheet for Year Ended December 31, 2019 Working Capital Other assets Total $ 22,800 152,000 $ 174,800 Noncurrent liabilities $ 62,000 Shareholders' equity $ 112,800 Total $ 174,800 1 Working Capital consists of: Accounts due from customers Accounts due to suppliers Income taxes owed Inventories, including office supplies of $5,000 Land Note owed to bank (due 12/31/21) Securities held as a short-term investment Wages owed 18,000 (22,700) (16,400) 35,500 12,000 (17,000) 17,000 (3,600) 22,800 $ 2 Other assets include: Buildings and equipment Cash Discount on bonds payable Investment in available-for sale stock (intent to hold - indefinite) Prepaid insurance Treasury stock (100 shares at cost) 100,000 12,300 3,000 29,000 2,400 5,300 152,000 3 Noncurrent liabilities consist of: Additional paid-in capital - preferred stock Allowance for doubtful accounts Bonds payable (due 2026) Common stock, $5 par (10,000 shares authorized) 2,600 1,400 33,000 25,000 62,000 4 Shareholders' equity includes: Accrued pension cost Accumulated depreciation: Buildings & equipment Additional paid-in capital - common stock Preferred stock, $100 par (1,000 shares authorized) Retained earnings Unrealized loss in value of available-for-sale securities 11,500 40,000 15,600 12,000 35,000 (1,300) 112,800 $