E$5\mathrm{.}5($LO $2)($Preparation of a Corrected Balance Sheet$)$ Uhura Company has decided to expand

its operations. The bookkeeper recently completed the following balance sheet in order to obtain addi$-$

tional funds for expansion.

Uhura Company

Balance Sheet

For the Year Ended $2020$

Instructions

Prepare a revised balance sheet given the available information. Assume that the accumulated depreci$-$

ation balance for the buildings is $$160,000$ and for the equipment, $$105,000.$ The allowance for doubtful

accounts has a balance of $$17,000.$ The pension obligation is considered a long$-$term liability.