Exercise 5-12

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

		Debit		Credit
Cash		$ 201,970
Sales				$ 8,104,060
Debt Investments (trading) (at cost, $145,000)		157,060
Cost of Goods Sold		4,800,000
Debt Investments (long-term)		303,970
Equity Investments (long-term)		281,970
Notes Payable (short-term)				94,060
Accounts Payable				459,060
Selling Expenses		2,004,060
Investment Revenue				66,860
Land		264,060
Buildings		1,044,970
Dividends Payable				140,970
Accrued Liabilities				100,060
Accounts Receivable		439,060
Accumulated Depreciation-Buildings				152,000
Allowance for Doubtful Accounts				29,060
Administrative Expenses		903,860
Interest Expense		214,860
Inventory		601,970
Gain				83,860
Notes Payable (long-term)				904,970
Equipment		604,060
Bonds Payable				1,004,970
Accumulated Depreciation-Equipment				60,000
Franchises		160,000
Common Stock ($5 par)				1,004,060
Treasury Stock		195,060
Patents		195,000
Retained Earnings				82,970
Paid-in Capital in Excess of Par				84,970

prepare a balance sheet at december 31,2020 for whispering corporation ignore income taxes list current assets in order of liquidity. list property plant and equipment. enter account name only and do not provide the descriptive information provided in the question.