Balance Sheet Preparation

The December 31, 2016, balance sheet accounts of Hitt Company are shown here in alphabetical order:

Accounts Payable	$20,800		Equipment	$72,400
Accounts Receivable	21,000		Inventory	37,200
Accumulated Depreciation: Buildings	53,000		Land	30,000
Accumulated Depreciation: Equipment	35,100		Marketable Securities (short-term)	6,100
Additional Paid-in Capital on Common Stock	24,000		Patents (net)	9,500
Additional Paid-in Capital on Preferred Stock	11,500		Preferred Stock, $100 par	21,000
Allowance for Doubtful Accounts	800		Retained Earnings	53,740
Bonds Payable (due 2024)	77,000		Revenues	107,000
Buildings	144,000		Salaries Expense	39,000
Cash	9,540		Salaries Payable	2,000
Common Stock, $10 par	30,000		Trademarks	3,700
Current Taxes Payable	10,400		Unrealized Increase in Value of Marketable Securities	1,000
Discount on Bonds Payable	6,900

Required:

1. Prepare Hitt's December 31, 2016, balance sheet.

Hitt Company Balance Sheet December 31, 2016
Assets
Current Assets:
Cash		$ fill in the blank 047c45f9afcffd6_2
Marketable securities (short-term)		fill in the blank 047c45f9afcffd6_4
Accounts receivable	$ fill in the blank 047c45f9afcffd6_6
Less: Allowance for doubtful accounts	fill in the blank 047c45f9afcffd6_8	fill in the blank 047c45f9afcffd6_9
Inventory		fill in the blank 047c45f9afcffd6_11
Total current assets			$ fill in the blank 047c45f9afcffd6_13
Property, Plant, and Equipment:
Land		$ fill in the blank 047c45f9afcffd6_15
	$ fill in the blank 047c45f9afcffd6_17
	fill in the blank 047c45f9afcffd6_19	fill in the blank 047c45f9afcffd6_20
	$ fill in the blank 047c45f9afcffd6_22
	fill in the blank 047c45f9afcffd6_24	fill in the blank 047c45f9afcffd6_25
			fill in the blank 047c45f9afcffd6_27
Intangible Assets:
		$ fill in the blank 047c45f9afcffd6_29
		fill in the blank 047c45f9afcffd6_31
			fill in the blank 047c45f9afcffd6_33
			fill in the blank 047c45f9afcffd6_35
Liabilities
Current Liabilities:
		$ fill in the blank 047c45f9afcffd6_37
		fill in the blank 047c45f9afcffd6_39
		fill in the blank 047c45f9afcffd6_41
			$ fill in the blank 047c45f9afcffd6_43
Long-Term Liabilities:
		$ fill in the blank 047c45f9afcffd6_45
		fill in the blank 047c45f9afcffd6_47
			fill in the blank 047c45f9afcffd6_49
			$ fill in the blank 047c45f9afcffd6_51
Shareholders' Equity
Contributed Capital:
		$ fill in the blank 047c45f9afcffd6_53
		fill in the blank 047c45f9afcffd6_55
		fill in the blank 047c45f9afcffd6_57
		fill in the blank 047c45f9afcffd6_59
			$ fill in the blank 047c45f9afcffd6_61
			fill in the blank 047c45f9afcffd6_63
Accumulated Other Comprehensive Income:
			fill in the blank 047c45f9afcffd6_65
			$ fill in the blank 047c45f9afcffd6_67
			$ fill in the blank 047c45f9afcffd6_69

2. Compute the working capital. $ fill in the blank e5cac4fd6070071_1 Compute the current ratio. Round to two decimal places. fill in the blank e5cac4fd6070071_2: 1