Early in January 2021, Skysong Company is preparing for a meeting with its bankers to discuss a loan request. Its bookkeeper provided the following accounts and balances at December 31, 2020. Credit Cash Accounts Receivable (net) Inventory Equipment (net) Patents Accounts Payable Notes Payable (due 2022) Common Stock Retained Earnings Debit $ 69,670 34.930 63,488 87,880 13,960 $ 49,860 69,090 90,200 60,778 $ 269,928 $ 269,928 Except for the following items, Skysong has recorded all adjustments in its accounts. 1. Cash includes $480 petty cash and $14,180 in a bond sinking fund. 2. Net accounts receivable is comprised of $47,950 in accounts receivable and $13,020 in allowance for doubtful accounts. 3. Equipment had a cost of $116,600 and accumulated depreciation of $28,720. 4. On January 8, 2021, one of Skysong' customers declared bankruptcy. At December 31, 2020, this customer owed Skysong $8,170. (a) Prepare a corrected December 31, 2020, balance sheet for Skysong Company. (List Current Assets in order of liquidity.) SKYSONG COMPANY Balance Sheet Assets Liabilities and Stockholders' Equity