Baggett Company's balance sheet accounts and amounts as of December 31, 2016, are shown in random order as follows: Debit Debit Account Account (credit) (Credit) $(3,800) Additional Paid-in Capital on Preferred Income Taxes Payable $(7,900) Prepaid Items 1,800 Stock Additional Paid-in Capital on Common (9,300) Allowance for Doubtful Accounts (1,600) (23,000) 12,200 Bonds Payable (due 2020) Land 57,400 (6,000) Buildings Notes Payable (due 2019) 16,400 Sinking Fund to Retire Bonds Payable 5,000 Notes Receivable (due 2018) Advances from Customers (long- (2,600) 12,600 Accounts Receivable term) 4,300 Premium on Bonds Payable (1,400) Cash (9,700) (13,100) Accumulated Depreciation: Equipment Accounts payable (18,300) 7,400 Retained Earnings Inventory (18,600) (21,000) Preferred Stock, $100 par Accumulated Depreciation: Buildings (1,400) 4,600 Wages Payable Patents (net) (12,700) 28,700 Common stock, $10 par Equipment Required: 1. Prepare a December 31, 2016 balance sheet for the Baggett. Baggett Company Balance Sheet December 31, 2016 Assets