Balance sheet items for Imperial Industries Inc. follow for the current year, December 31. 2022:

Instructions:

( a) Prepare only the asset section of the classified balance sheet in good form.

The numbers of authorized shares are as follows: 600,000 common and 40,000 preferred.

Assume that notes receivable and notes payable are short- term, unless stated otherwise.

Imperial Industries Inc.

Accounts receivable	155,776
Accounts payable	784,000
Accumulated Depreciation building	432,320
Accumulated Depreciation equipment	467,200
Accumulated other comprehensive income	80,000
Bonds payable	456,000
Building	2,624,000
Cash	576,000
Common shares (40,000 issued)	640,000
Equipment	2,352,000
Goodwill	200,000
Inventories	382,880
Investments FV-OCI (Fair value 75,000)	52,000
Land	768,000
Long-term rental obligations	810,000
Notes payable to banks (demand)	424,000
Notes receivable Due in 6 months	713,120
Payroll taxes payable	284,146
Preferred shares (30,000 issued)	240,000
Prepaid expenses	70,336
Rent payable (short-term)	72,000
Retained Earnings	?
Taxes payable	157,380
Investments, FV-NI (fair value 121,000)	169,600
Unsecured notes payable (long-term)	2,560,000