Current Attempt in Progress Skysong Company has decided to expand its operations. The bookkeeper recently completed the following balance sheet in order to obtain additional funds for expansion. SKYSONG COMPANY BALANCE SHEET FOR THE YEAR ENDED 2020 Current assets Cash $237,500 Accounts receivable (net) 347,500 Inventory (lower-of-average-cost-or-market) 408,500 Equity investments (marketable) at cost (fair value $127,500) 147,500 Property, plant, and equipment Buildings (net) 577,500 Equipment (net) 167,500 Land held for future use 182,500 Intangible assets Goodwill 87,500 Cash surrender value of life insurance 97,500 Prepaid expenses 19,500 Current liabilities Accounts payable 142,500 Notes payable (due next year) 132,500 Pension obligation 89,500 Rent payable 56,500 Premium on bonds payable 60,500 Long-term liabilities Bonds payable 507,500 Stockholders' equity Common stock, $1.00 par, authorized 400,000 shares, issued 297,500 297,500 Additional paid-in capital 167,500 Retained earnings ? Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $167,500 and for the equipment, $112,500. The allowance for doubtful accounts has a balance of $24.500. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) SKYSONG COMPANY Balance Sheet Assets S S Liabilities and Stockholders' Equity S $