Balance Sheet The following is a list (in random order) of KIP International Products Company's December 31, 2016 balance sheet accounts of the International Products Company: Additional Paid-In Capital on Preferred Stock $ 2,160 Accounts Payable $ 13,400 Accounts Receivable 15,000 Prepaid Insurance 1,300 Dividends Payable 1,590 Discount on Bonds Payable 1,000 Buildings 76,400 Common Stock, $10 par 18,000 Bonds Payable (due 2019) 23,300 Equipment 35,600 Retained Earnings 92,870 Allowance for Doubtful Accounts 630 Office Supplies 2,050 Preferred Stock, $50 par 13,500 Current Income Taxes Payable 4,090 Accumulated Depreciation: Buildings 13,400 Accumulated Depreciation: Equipment 7,600 Current Interest Payable 2,690 Patents (net) 3,900 Investment in Held-to-Maturity Bonds 13,700 Notes Payable (due January 1, 2019) 11,800 Cash 9,700 Inventory 39,600 Treasury Stock (at cost) 1,800 Additional Paid-In Capital on Common Stock 7,700 Accrued Wages 3,620 Sinking Fund for Bond Retirement 3,400 Land 12,900 Required: Question Content Area 1. Prepare a properly classified balance sheet according to U.S. GAAP for KIP as of December 31, 2016. Kip International Products Company Balance Sheet December 31, 2016 Assets Current Assets: $ fill in the blank 58c2cd00eff4ff5_2 $ fill in the blank 58c2cd00eff4ff5_4 fill in the blank 58c2cd00eff4ff5_6 fill in the blank 58c2cd00eff4ff5_7 fill in the blank 58c2cd00eff4ff5_9 Prepaid items: $ fill in the blank 58c2cd00eff4ff5_11 fill in the blank 58c2cd00eff4ff5_13 fill in the blank 58c2cd00eff4ff5_14 Total current assets $ fill in the blank 58c2cd00eff4ff5_15 Long-Term Investments: $ fill in the blank 58c2cd00eff4ff5_17 fill in the blank 58c2cd00eff4ff5_19 Total long-term investments fill in the blank 58c2cd00eff4ff5_20 Property, Plant, and Equipment: $ fill in the blank 58c2cd00eff4ff5_22 $ fill in the blank 58c2cd00eff4ff5_24 fill in the blank 58c2cd00eff4ff5_26 fill in the blank 58c2cd00eff4ff5_27 $ fill in the blank 58c2cd00eff4ff5_29 fill in the blank 58c2cd00eff4ff5_31 fill in the blank 58c2cd00eff4ff5_32 Total property, plant, and equipment fill in the blank 58c2cd00eff4ff5_33 Intangible Assets: fill in the blank 58c2cd00eff4ff5_35 Total Assets $ fill in the blank 58c2cd00eff4ff5_36 Liabilities Current Liabilities: $ fill in the blank 58c2cd00eff4ff5_38 fill in the blank 58c2cd00eff4ff5_40 fill in the blank 58c2cd00eff4ff5_42 fill in the blank 58c2cd00eff4ff5_44 fill in the blank 58c2cd00eff4ff5_46 Total current liabilities $ fill in the blank 58c2cd00eff4ff5_47 Long-Term Liabilities: $ fill in the blank 58c2cd00eff4ff5_49 fill in the blank 58c2cd00eff4ff5_51 $ fill in the blank 58c2cd00eff4ff5_52 fill in the blank 58c2cd00eff4ff5_54 Total long-term liabilities fill in the blank 58c2cd00eff4ff5_55 Total Liabilities $ fill in the blank 58c2cd00eff4ff5_56 Shareholders' Equity Contributed Capital: $ fill in the blank 58c2cd00eff4ff5_58 fill in the blank 58c2cd00eff4ff5_60 fill in the blank 58c2cd00eff4ff5_62 fill in the blank 58c2cd00eff4ff5_64 Total contributed capital $ fill in the blank 58c2cd00eff4ff5_65 fill in the blank 58c2cd00eff4ff5_67 Total contributed capital and retained earnings $ fill in the blank 58c2cd00eff4ff5_68 fill in the blank 58c2cd00eff4ff5_70 Total shareholders' equity fill in the blank 58c2cd00eff4ff5_71 Total liabilities and shareholders' equity $ fill in the blank 58c2cd00eff4ff5_72