Cash Accounts receivable (net) Inventory Equipment (net) Patents BLUE COMPANY BALANCE SHEET AS OF JULY 31, 2020 $ 73,890 Notes and accounts payable $ 48,890 45,390 Long-term liabilities 79,890 64,890 Stockholders' equity 160,390 84,000 $289,170 21,000 $289,170 The following additional information is provided. 1. Cash includes $1,200 in a petty cash fund and $13,100 in a bond sinking fund. 2. 3. 4. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $48,890 and (b) allowance for doubtful accounts $3,500. Inventory costing $5,153 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,153 were recognized on these consigned goods. Equipment had a cost of $116,890 and an accumulated depreciation balance of $32,890. 5. Income taxes payable of $6,000 were accrued on July 31. Blue Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset against the income taxes payable amount. Prepare a corrected classified balance sheet as of July 31, 2020, from the available information, adjusting the account balances using the additional information. (List Current Assets in order of liquidity)