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E5.17 (LO 2, 3) (Preparation of a Statement of Cash Flows and a Balance Sheet) Grant Wood Corporation's balance sheet at the end of 2019

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E5.17 (LO 2, 3) (Preparation of a Statement of Cash Flows and a Balance Sheet) Grant Wood Corporation's balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000) Land Buildings Equipment Accum. depr.buildings Accum. depr.-equipment Patents Total $235,000 30,000 120,000 90,000 (30,000) (11,000) 40,000 $474,000 Current liabilities Bonds payable Common stock Retained earnings Total $150,000 100,000 180,000 44,000 $474,000

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