E5-12 (Preparation of a Balance Sheet) Presented below is the trial balance of Vivaldi Corporation at December 31, 2012

Cash $ 197,000

Sales $ 7,900,000

Debt Investments (trading) (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 DepreciationBuildings 352,000

Allowance for Doubtful Accounts 25,000

Administrative Expenses 900,000

Interest Expense 211,000

Inventory 597,000

Extraordinary Gain 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

Instructions: prepare a Trial balance. Prepare a balance sheet at December 31, 2012, for Vivaldi Corporation. Ignore income taxes.