Balance Sheet Preparation

The December 31, 2019, balance sheet accounts of Hitt Company are shown here in alphabetical order:

Accounts Payable	$18,400		Discount on Bonds Payable	$6,900
Accounts Receivable	21,000		Equipment	72,400
Accumulated Depreciation: Buildings	53,000		Inventory	37,200
Accumulated Depreciation: Equipment	35,100		Land	30,000
Accumulated Other Comprehensive Income	1,000		Marketable Securities (short-term)	6,100
Additional Paid-in Capital on Common Stock	24,000		Patents (net)	9,700
Additional Paid-in Capital on Preferred Stock	11,500		Preferred Stock, $100 par	21,000
Allowance for Doubtful Accounts	800		Retained Earnings	54,140
Bonds Payable (due 2027)	77,000		Revenues	107,000
Buildings	144,000		Salaries Expense	39,000
Cash	7,340		Salaries Payable	2,000
Common Stock, $10 par	30,000		Trademarks	3,700
Current Taxes Payable	10,400

Required:

1. Prepare Hitt's December 31, 2019, balance sheet.

HITT COMPANY Balance Sheet December 31, 2019
Assets
Current Assets:
Cash		$ fill in the blank b2709ef7e047019_2
Marketable securities (short-term)		fill in the blank b2709ef7e047019_4
Accounts receivable	$ fill in the blank b2709ef7e047019_6
Less: Allowance for doubtful accounts	fill in the blank b2709ef7e047019_8	fill in the blank b2709ef7e047019_9
Inventory		fill in the blank b2709ef7e047019_11
Total current assets			$ fill in the blank b2709ef7e047019_13
Property, Plant, and Equipment:
Land		$ fill in the blank b2709ef7e047019_15
Buildings	$ fill in the blank b2709ef7e047019_17
Less: Accumulated depreciation-buildings	fill in the blank b2709ef7e047019_19	fill in the blank b2709ef7e047019_20
Equipment	$ fill in the blank b2709ef7e047019_22
Less: Accumulated depreciation-equipment	fill in the blank b2709ef7e047019_24	fill in the blank b2709ef7e047019_25
Total property, plant, and equipment			fill in the blank b2709ef7e047019_27
Intangible Assets:
Patents (net)		$ fill in the blank b2709ef7e047019_29
Trademarks		fill in the blank b2709ef7e047019_31
Total intangible assets			fill in the blank b2709ef7e047019_33
Total assets			$fill in the blank b2709ef7e047019_35
Liabilities
Current Liabilities:
Accounts payable		$ fill in the blank b2709ef7e047019_37
Current taxes payable		fill in the blank b2709ef7e047019_39
Salaries payable		fill in the blank b2709ef7e047019_41
Total current liabilities			$ fill in the blank b2709ef7e047019_43
Long-Term Liabilities:
Bonds payable (due 2027)		$ fill in the blank b2709ef7e047019_45
Less: Discount on bonds payable		fill in the blank b2709ef7e047019_47
Total long-term liabilities			fill in the blank b2709ef7e047019_49
Total liabilities			$ fill in the blank b2709ef7e047019_51
Shareholders' Equity
Contributed Capital:
Preferred stock, $100 par		$ fill in the blank b2709ef7e047019_53
Common stock, $10 par		fill in the blank b2709ef7e047019_55
Additional paid-in capital on preferred stock		fill in the blank b2709ef7e047019_57
Additional paid-in capital on common stock		fill in the blank b2709ef7e047019_59
Total contributed capital			$ fill in the blank b2709ef7e047019_61
Retained earnings			fill in the blank b2709ef7e047019_63
Accumulated other comprehensive income			fill in the blank b2709ef7e047019_65
Total shareholders' equity			$ fill in the blank b2709ef7e047019_67
Total liabilities and shareholders' equity			$ fill in the blank b2709ef7e047019_69