Balance Sheet Preparation The December 31, 2019, balance sheet accounts of Hitt Company are shown here in alphabetical order: Accounts Payable $20,000 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 Additional Paid-in Capital on Common Stock 24,000 Additional Paid-in Capital on Preferred Stock 11,500 Allowance for Doubtful Accounts Bonds Payable (due 2027) 1,100 Marketable Securities (short-term) 6,100 Patents (net) 9,700 Preferred Stock, $100 par 21,000 800 Retained Earnings 56,120 77,000 Revenues 107,000 Buildings 144,000 Salaries Expense 39,000 Cash 11,020 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: