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