Balance Sheet Baggett Company's balance sheet accounts and amounts as of December 31, 2019, are shown in random order as follows: Account Debit (Credit) Account Debit (Credit) Income Taxes Payable $(3,800) Additional Paid-in Capital on Preferred Prepaid Items 1,800 Stock $(7,900) Additional Paid-in Capital on Common Stock (9,300) Allowance for Doubtful Accounts (1,600) Land 12,200 Bonds Payable (due 2023) (23,000) Notes Payable (du 2022) (6,000) Buildings 57,400 Notes Receivable (due 2021) 16,400 Sinking Fund to Retire Bonds Payable 5,000 Accounts Receivable 13,000 Advances from Customers (long-term) (2,500) Premium on Bonds Payable (1,400) Cash 4,000 < Accounts Payable (14,000) Accumulated Depreciation: Equipment (9,700) Inventory 7,400 Retained Earnings (18,000) Accumulated Depreciation: Buildings (21,000) Preferred Stock, $100 par (18,600) Patents (net) 4,600 Wages Payable (1,000) Equipment 28,700 Common Stock, $10 par (12,700) Required: 1. Prepare a December 31, 2019, balance sheet for Baggett. Baggett Company Balance Sheet December 31, 2019 Assets Current Assets: Long-Term Investments: