B ROBLEM 2 (LO 2) Balance Sheet Preparation (52pts) esented below is the trial balance of Robert Butler Corporation at December 31, 2020. Robert Butler Corporation Trial Balance December 31, 2020 Debit Credit Cash $ 197,000 Cost of Goods Sold Sales Revenue Debt Investments (trading) (at cost, $145,000) Debt Investments (long-term) Equity Investment (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable $8,100,000 153,000 4,800,000 299,000 277,000 90,000 455,000 2,000,000 63,000 260,000 1,040,000 136,000 2 Accrued Liabilities 96,000 3 Accounts Receivable 435,000 P4 Accumulated Depreciation-Buildings 152,000 25 Allowance for Doubtful Accounts 25,000 26. Administrative Expenses 900,000 27 Interest Expense 211,000 28 Inventory 597,000 29 Gain 80,000 30 Notes Payable (long-term) 900,000 31 Equipment 600,000 32 Bonds Payable 33 Accumulated Depreciation Equipment 1,000,000 34 Franhises 60,000 35 Common Stock ($5 par) 160,000 36 Treasury Stock 1,000,000 37 Patents 191,000 38 Retained Earnings 195,000 39 Paid-in Capital in Excess of Par 78,000 40 Total 80,000 41 $12,315,000 $12,315,000 42 Instructions: 43 Prepare a balance sheet as of December 31 3000