(Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2025. Goodwill $125,000 Accumulated depreciation- $ 292,000 equipment 177,591 Inventory 300,000 15,000 Payroll taxes payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable 97,630 360,000 480,000 445,700 265,000 490,000 ? Rent payable (short-term) Income taxes payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Debt investments (trading) Accumulated depreciation - buildings Notes payable (long- 1,600,000 Buildings term) 239,800 45,000 98,362 480,000 200,000 150,000 87,920 1,470,000 121,000 270,200 1,640,000

(Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2025. \begin{tabular}{|c|c|c|c|} \hline Goodwill & $125,000 & \begin{tabular}{l} Accumulated depreciation- \\ quipment \end{tabular} & $292,000 \\ \hline Payroll taxes payable & 177,591 & Inventory & 239,800 \\ \hline Bonds payable & 300,000 & Rent payable (short-term) & 45,000 \\ \hline \begin{tabular}{l} Discount on bonds \\ payable \end{tabular} & 15,000 & Income taxes payable & 98.362 \\ \hline Cash & 360,000 & Rent payable (long-term) & 480.000 \\ \hline Land & 480,000 & Common stock, \$1 par value & 200,000 \\ \hline Notes receivable & 445,700 & Preferred stock, $10 par value & 150,000 \\ \hline Notes payable (to banks) & 265,000 & Prepaid expenses & 87,920 \\ \hline Accounts payable & 490,000 & Equipment & 1,470,000 \\ \hline Retained earnings & ? & Debt investments (trading) & 121.000 \\ \hline Income taxes receivable & 97,630 & \begin{tabular}{l} Accumulated depreciation- \\ uildings \end{tabular} & 270,200 \\ \hline \begin{tabular}{l} Notes payable (long- \\ term) \end{tabular} & 1,600,000 & Buildings & 1,640,000 \\ \hline \end{tabular}