Based on the following information and the post-closing trial balance that follows, prepar balance sheet in report form at December 31, 20Y8. Be sure to complete the heading of the balance sheet. Enter assets in the order in which they appear in the post-closing trial balance. Refer to information given in the problem and the Labels and Amount Descriptions list for exact wording of text entries. There is no need to include "(current portion)" or a due date with any account titles. The word "Less" and colons will appear automatically. Enter all amounts as positive numbers.The merchandise inventory is stated at cost by the LIFO method.The product warranty payable is a current liability.Vacation pay payable:Current liability $7,140Long-term liability 3,360The unfunded pension liability is a long-term liability.Notes payable:Current liability $70,000Long-term liability 630,000

Kornett company problem BALANCE SHEET