Exercise 5-12

Presented below is the trial balance of Stellar Corporation at December 31, 2020.

		Debit		Credit
Cash		$ 198,350
Sales				$ 8,103,170
Debt Investments (trading) (at cost, $145,000)		156,170
Cost of Goods Sold		4,800,000
Debt Investments (long-term)		300,350
Equity Investments (long-term)		278,350
Notes Payable (short-term)				93,170
Accounts Payable				458,170
Selling Expenses		2,003,170
Investment Revenue				65,770
Land		263,170
Buildings		1,041,350
Dividends Payable				137,350
Accrued Liabilities				99,170
Accounts Receivable		438,170
Accumulated Depreciation-Buildings				152,000
Allowance for Doubtful Accounts				28,170
Administrative Expenses		902,770
Interest Expense		213,770
Inventory		598,350
Gain				82,770
Notes Payable (long-term)				901,350
Equipment		603,170
Bonds Payable				1,001,350
Accumulated Depreciation-Equipment				60,000
Franchises		160,000
Common Stock ($5 par)				1,003,170
Treasury Stock		194,170
Patents		195,000
Retained Earnings				79,350
Paid-in Capital in Excess of Par				81,350
Totals		$12,346,310		$12,346,310

Prepare a balance sheet at December 31, 2020, for Stellar Corporation. (Ignore income taxes). (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)