Cleves Corporation Post-Closing Trial Balance December 31, 2020
Account	Debit	Credit
Accounts Payable		$310,000
Accounts Receivable	$480,000
Accumulated Depreciation - Buildings		$185,000
Additional Paid-in Capital in Excess of Par - Common		$1,300,000
Additional Paid-in Capital from Treasury Stock		$160,000
Allowance for Doubtful Accounts		$30,000
Bonds Payable, 8% due 2025		$300,000
Buildings	$1,450,000
Cash	$190,000
Common Stock ($1 par)		$200,000
Discount on Bonds Payable	$12,000
Dividends Payable (preferred stock - cash)		$4,000
Inventory	$560,000
Land	$400,000
Other Comprehensive Income (Loss)	$19,000
Preferred Stock ($50 par)		$500,000
Prepaid Expenses	$40,000
Retained Earnings		$332,000
Treasury Stock (Common, at Cost)	$170,000
Totals	$3,321,000	$3,321,000
At December 31, 2020, Cleves had the following number of common and preferred shares:
	Common	Preferred
Authorized	600,000	60,000
Outstanding	190,000	10,000

The dividends on preferred stock are 8% cumulative. In addition, preferred stock has a preference in liquidation of $50 per share.

Instructions: Prepare the liability and the stockholders' equity section of Cleve's balance sheet at December 31, 2020 in "good" form including disclosures.

***Please show all supporting calculations.