Correction of Balance Sheet You may use the attached spreadsheet to help you complete this activity, but you are not required to do so. You will find the spreadsheet by clicking on the green Excel icon in the upper left hand corner of the activity. On December 31, 2019, Stevens Company's bookkeeper prepared the following balance sheet with items erroneously classified. Stevens Company Balance Sheet For Year Ended December 31, 2019 Current Assets: Current Liabilities: Inventory $ 6,000 Accounts payable $ 9,900 Accounts receivable 5,900 Allowance for doubtful accounts 800 Cash 2,300 Salaries payable 1,500 Treasury stock (at cost) 3,300 Taxes payable 2,500 Long-Term Investments: Long-Term Liabilities: Temporary investments in marketable securities 3,200 Bonds payable (due 2023) 11,000 Investment in held-to-maturity bonds 10,000 Unearned rent (for 3 months) 900 Property, Plant, and Equipment: Shareholders' Equity: Land 8,100 Retained earnings 24,200 Office supplies 800 Accumulated depreciation on buildings and equipment 9,200 Buildings and equipment 35,600 Additional paid-in capital on common stock 10,400 Intangibles: Common stock, $10 par 12,000 Patents (net) 5,000 Prepaid insurance (for 6 months) 1,200 Discount on bonds payable 1,000 Total Assets $82,400 Total Credits $82,400 Required: Next Level You determine that the account balances listed on the balance sheet are correct but, in certain cases, incorrectly classified. Prepare a properly classified balance sheet for Stevens as of December 31, 2019. Stevens Company Balance Sheet December 31, 2019 Assets Current Assets: Cash Temporary investments in marketable securities Office supplies $ Less: Allowance for doubtful accounts Inventory Prepaid items: $ Long-Term Investments: Property, Plant, and Equipment: $ Intangible Assets: DO IN Liabilities Current Liabilities: $ Long-Term Liabilities: Long-Term Liabilities: $ Shareholders' Equity Contributed Capital: $ $ $ Less: Treasury stock (at cost) $ $