*Exercise 5-12 Presented below is the trial balance of Vaughn Corporation at December 31, 2020. Credit Debit $ 201,970 $ 8,104,060 $ 157,060 4,800,000 303,970 281,970 94,060 459,060 2,004,060 66,860 264,060 1,044,970 140,970 100,060 439,060 Cash Sales Debt Investments (trading) (at cost, $145,000) Cost of Goods Sold Debt Investments (long-term) Equity Investments (long-term) Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Gain Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation Equipment Franchises Common Stock ($5 par) Treasury Stock Patents Retained Earnings Paid-in Capital in Excess of Par Totals 152,000 29,060 903,860 214,860 601,970 83,860 904,970 604,060 1,004,970 60,000 160,000 1,004,060 195,060 195,000 82,970 84,970 $12,371,930 $12,371,930 Prepare a balance sheet at December 31, 2020, for Vaughn Corporation. (Ignore income taxes). (List Current Assets in order of liquidity. List Property, Plant and Equipment in or and do not provide the descriptive information provided in the question.) Prepare a balance sheet at December 31, 2020, for Vaughn Corporation. (Honore 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.) VAUGHN CORPORATION Balance Sheet Assets Liabilities and Stockholders' Equity