Exercise 5-4 Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. Common Stock 14. Accumulated Depreciation-Buildings. 2. Discount on Bonds Payable. 15. Cash Restricted for Plant Expansion. 3. Treasury Stock (at cost). 16. Land Held for Future Plant Site. 4. Notes Payable (short-term). 17. Allowance for Doubtful Accounts. 5. Raw Materials 18. Retained Earnings. 6. Preferred Stock (Equity) Investments (long-term). 19. Paid-in Capital in Excess of Par-Common Stock. 7. Unearned Rent Revenue. 20. Unearned Subscriptions Revenue. 8. Work in Process. 21. Receivables-Officers (due in one year). 9. Copyrights. 22. Inventory (finished goods). 10. Buildings. 23. Accounts Receivable. 11. Notes Receivable (short-term). 24. Bonds Payable (due in 4 years). 12. Cash 25. Noncontrolling Interest. 13. Salaries and Wages Payable. Prepare a classified balance sheet in good form. (List Current Assets in order of liquidity. For Land, Treasury Stock, Notes Payable, Preferred Stock Investments, Notes Receivable, Receivables-Officers, Inventory, Bonds Payable, and Restricted Cash, enter the account name only and do not provide the descriptive information provided in the question.) Denis Savard Inc. Balance Sheet December 31, 20- Assets Current Assets Cash $XXX Less Restricted Cash XXX $XXX Accounts Receivable xxx Less Allowance for Doubtful Accounts Less Allowance for Doubtful Accounts XXX XXX Notes Receivable XXX Receivables-Officers XXX Inventory Raw Materials Work-in-Process XXX Finished Goods XXX Total Current Assets $XXX Long-term Investments Preferred Stock Investments XXX Land XXX Restricted Cash XXX Total Long-term Investments XXX Property, plant and Equipment Buildings XXX Buildings Less .. Accumulated Depreciation-Building Total Property, Plant and Equipment - Copyrights XXX Total Assets $XXX Liabilities and Stockholders' Equity Current Liabilities Salaries and Wages Payable $XXX Notes Payable XXX Unearned Rent Revenue XXX Unearned Subscriptions Revenue XXX Total Current Liabilities $XXX Long-term Debt Bonds Payable $XXX Less : Discount on Bonds Payable (XXX) XXX Total Liabilities XXX Stockholders' Equity Total Liabilities XXX Stockholders' Equity Capital Stock Common Stock Additional Paid-in Capital Paid-in Capital in Excess of Par - Common Stock XXX Total Paid-in Capital XXX Retained Earnings XXX Total Paid-in Capital and Retained Earnings XXX Less : Treasury Stock (XXX) XXX XXX Total Stockholders' Equity XXX Total Liabilities and Stockholders' Equity $XXX