Bruno Company has decided to expand its operations.The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds for expansion.

Bruno Company

Balance Sheet

December 31, 2010

Current Assets
	Cash	$350,000
	Accounts Receivable (net)	340,000
	Inventories at lower of average cost or market	401,000
	Trading securities at cost (fair value $120,000)	140,000
Property, plant and equipment
	Building (net)	609,000
	Office equipment (net)	160,000
	Land held for future use	175,000
Intangible assets
	Goodwill	80,000
	Cash surrender value of life insurance	90,000
	Prepaid expenses	12,000
Current liabilities
	Accounts payable	155,000
	Notes payable (due next year)	175,000
	Pension obligation	102,000
	Rent payable	49,000
	Premium on bonds payable	53,000
Long-term liabilities
	Bonds payable	550,000
Stockholders Equity
	Common stock, $1.00 par, authorized
	400,000 shares, issued 290,000	290,000
	Additional paid-in capital	240,000
	Retained earnings	?

Prepare a revised balance sheet given the available information.Assume that the accumulated depreciation balance for the buildings is $160,000 and for the office equipment, $105,000.The allowance for doubtful accounts has a balance of $17,000. The pension obligation is considered a long-term liability.