\begin{tabular}{|c|c|c|c|} \hline \multicolumn{3}{|l|}{\begin{tabular}{|c|} Balance Sheet \\ As of December 31 \end{tabular}} & \\ \hline \multicolumn{4}{|l|}{ Assets } \\ \hline \multicolumn{3}{|l|}{ Current assets } & \\ \hline Cash & V & 16,000 & \\ \hline Prepaid rent & V & 4,800 & \\ \hline Accounts receivable & V & 15,200 & \\ \hline Allowance for doubtful accounts & V & 800 & \\ \hline Short-term investments & V & 6,400 & \\ \hline \multicolumn{3}{|l|}{ Inventory } & \\ \hline Raw materials & V & 15,360 & \\ \hline Work in process & V & 37,280 & \\ \hline Finished goods & V & 20,960 & \\ \hline Total current assets & V & 85,600 & \\ \hline \multicolumn{3}{|l|}{ Investments } & \\ \hline Land held for future plant site & V & 22,400 & \\ \hline Investments & V & 14,400 & \\ \hline Debt sinking fund & V & 11,200 & \\ \hline Total investments & V & 48,000 & \\ \hline \multicolumn{4}{|l|}{ Property, plant, and equipment } \\ \hline Office equipment & V & 15,200 & \\ \hline Plant equipment & V & 49,920 & \\ \hline Accumulated depreciation & V & 14,400 & \\ \hline Net property, plant, and equipment & V & 50,720 & \\ \hline \multicolumn{3}{|l|}{ Other assets } & \\ \hline Note receivable, 9% & V & 10,798 & \\ \hline Total assets & V & 0 & \\ \hline \multicolumn{4}{|l|}{ Liabilities and Stockholders' Equity } \\ \hline \multicolumn{3}{|l|}{ Current liabilities } & \\ \hline Accounts payable & V & 53,120 & \\ \hline Accrued expenses & V & 1,280 & \\ \hline Total current liabilities & V & 54,400 & \\ \hline \multicolumn{4}{|l|}{ Long-term liabilities } \\ \hline Bonds payable, 8% & V & 40,000 & \\ \hline \multicolumn{3}{|l|}{ Stockholders' equity } & \\ \hline Common stock & V & 112,000 & \\ \hline Retained earnings & V & 0 & \\ \hline Total stockholders' equity & V & 0 & \\ \hline Total liabilities and stockholders' equity & V & $ & \\ \hline \end{tabular} Preparing a Classified Balance Sheet The ledger of Bama Inc. had the following account balances on December 31. *For the investments account, $6,400 will be converted to cash next year; the remainder is a long-term investment. Prepare a classified balance sheet for Bama Inc. on December 31. Note: Do not use negative signs with any of your answers