Debit 264 Chapter 5 Balance Sheet and Statement of Cash Flows 3 ES-12 (Preparation of a Balance Sheet) Presented below is the trial balance of Scott Butler Corporation at December 31, 2014 Credit Cash $ 197,000 $ 8,100,000 Sales Revenue 153,000 Debt investments (trading) (at cost, $145,000) Cost of Goods Sold 4,800,000 Debt Investments (long-term) 299,000 Equity Investments (long-term) 277,000 90,000 Notes Payable (short-term) 455,000 Accounts Payable Selling Expenses 2,000,000 63.000 Investment Revenue Land 260,000 Buildings 1,040,000 Dividends Payable 136,000 Accrued Liabilities 96,000 Accounts Receivable 435,000 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 25,000 Administrative Expenses 900,000 Interest Expense 211,000 Inventory 597,000 Gain (extraordinary) 80,000 Notes Payable long-term) 900,000 Equipment 600,000 Bonds Payable 1,000,000 Accumulated Depreciation-Equipment 60,000 Franchises 160,000 Common Stock (55 par) Treasury Stock 1,000,000 191,000 Patents Retained Earnings 195,000 Pald-in Capital in Excess of Par 78,000 Totals 80,000 $12,315,000 $12,315,000 Instructions Prepare a balance sheet at December 31, 2014, for Scott Butler Corporation. (Ignore income taxes.)