EXCEL (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2017. Goodwill $ 125,000 Payroll taxes payable 177, 591 Bonds payable 300,000 Discount on bonds payable 15,000 Cash 300,000 Land 480,000 Notes receivable 445, 700 Notes payable (to banks) 265,000 Accounts payable 490,000 Retained earnings ? Income taxes receivable 97, 630 Notes payable (long-term) 1, 600,000 Accumulated depreciation-equipment $292,000 Inventory 239, 800 Rent payable (short-term) 45,000 Income taxes payable 98, 362 Rent payable (long-term) 480, 300 Common stock, $1 par value 200,000 Preferred stock, $10 par value 150,000 Prepaid expenses 87, 920 Equipment 1, 470,000 Debt investments (trading) 121,000 Accumulated depreciation-buildings 270, 200 Buildings 1, 640,000 Instructions Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same