Cleves Corporation Post-Closing Trial Balance December 31, 2020 Debit Credit 310,000 $ $ 480,000 185,000 1,300,000 160,000 30,000 300,000 1,450,000 190,000 Account Accounts Payable Accounts Receivable 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 Cash Common Stock ($1 par) Discount on Bonds Payable Dividends Payable (preferred stock - cash) Inventory Land Other Comprehensive Income (Loss) Preferred Stock ($50 par) Prepaid Expenses Retained Earnings Treasury Stock (Common, at Cost) Totals 200,000 12,000 4,000 560,000 400,000 19,000 500,000 40,000 332,000 170,000 3,321,000 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