Corrections to Balance Sheet

Minett Boatbuilders Company prepared the following balance sheet:

Minett Boatbuilders Company

Minett Boatbuilders Company

Balance Sheet for Year Ended December $31,2019$

Your analysis of these accounts reveals the following information:

Working capital consists of:

Land

Accounts due from customers

Accounts due to suppliers

Inventories, including office supplies of $$3,500$

Income taxes owed

Wages owed

Note owed to bank $($due December $31,2021)$

Securities held as a short$-$term investment

Other assets include:

Cash

Prepaid insurance

Buildings and equipment

Discount on bonds payable

Investment in available$-$for$-$sale securities

$$12,300$

$2,400$

$100,000$

$3,000$

$29,000$