Assignment Instructions: Below are account balances for Sportswear, Inc., as of December 31, 2016. Table 1 includes accounts for which valuation. Table 1 has provided your The bookkeeper struggled with proper valuation of the accouhis the bookkeeper is confused and needs helps determining proper with two valuation options and you which one accounts for which the bookkeeper to ide prepare a classified balance sheet as of December 31, 2016, in proper valuations for each account. You must type your work (you can recommend ucine Fxcell must select which one to use in the balance sheet. Table 2 includes per was able to identify proper valuations. Your assignment is to form, using the appropriate either use Excel or Word, but I TABLE 1 ACCOUNTS WITH UNCERTAIN VALUATION VALUATION: OPTION 2 VALUATION: OPTION 1 FMV of $ 9,100 Face value Net realizable value: S5 sal value 247, Face value: $455,000 FMV: 13,000 FMV: $2.60 Amount not earned $ 1.950 10 year Bond Payable FMV Resale value Amortized Cost:$ Trading Securities s from customers FMV: $ 55,900 Amount owed from customer: $58.500 Total issue price: $154,700 Total par value: s Amortized Cost: stock FMV TABLE 2 ACCOUNTS WITH KNOWN VALUATION 2,730 136,500 286,000 Retained earnings, end of year Petty cash 261,300 39,000 Accumulated depreciation Buildi Accumulated depreciation Equipment Trade name g-term Notes Payable 46,670 11,050 7,930 Wages Payable Taxes Payable Interest Payable Warranty Liability Allowance for doubtful accounts PIC In excess of par-common stock Treasury stock 24,700 65,000 r assets 65,000