E 5-12. E5-12 (Preparation of a Balance Sheet) Presented below is the trial balance of Scott Butler Corporation at

December 31, 2014.

Debit Credit

Cash $197,000

Sales Revenue $ 8,100,000

Debt Investments (trading) (at cost, $145,000) $153,000

Cost of Goods Sold $4,800,000

Debt Investments (long-term) $299,000

Equity Investments (long-term) $277,000

Notes Payable (short-term) $90,000

Accounts Payable $455,000

Selling Expenses $2,000,000

Investment Revenue $63,000

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 DepreciationEquipment $60,000

Franchises $160,000

Common Stock ($5 par) $1,000,000

Treasury Stock $191,000

Patents $195,000

Retained Earnings $78,000

Paid-in Capital in Excess of par $80,000

Total $12,315,000 $12,315,000