classified balance sheet in good form. (No monetary amounts are necessary.) 552 (LO 2) (Prep (Preparation of a Corrected Balance Sheet) Uhura Company has decided to expand ations. The bookkeeper recently completed the following balance sheet in order to obtain addi- its operations. The bookkeen tional funds for expansion. Uhura Company Balance Sheet For the Year Ended 2020 $230,000 340,000 401,000 140,000 570,000 160,000 175,000 80,000 90,000 12,000 Current assets Cash Accounts receivable (net) Inventory (lower-of-average-cost-or-market) Equity investments (marketable)at cost (fair value $120,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash surrender value of life insurance Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Premium on bonds payable Long-term liabilities Bonds payable Stockholders' equity Common stock, $1.00 par, authorized 400,000 shares, issued 290,000 Additional paid-in capital Retained earnings 135,000 125,000 82,000 49,000 53,000 500,000 290,000 160,000