Exercise 5-5 Blue Company has decided to expand its operations. The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds for expansion. BLUE COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017 Current assets Cash $242,000 Accounts receivable (net) 352,000 Inventory (lower-of-average-cost-or-market) 413,000 Equity investments (marketable)-at cost (fair value $132,000) 152,000 Property, plant, and equipment Buildings (net) 582,000 Equipment (net) 172,000 Land held for future use 187,000 Intangible assets Goodwill 92,000 Cash surrender value of life insurance 102,000 Prepaid expenses 24,000 Current liabilities Accounts payable 147,000 Notes payable (due next year) 137,000 Pension obligation 94,000 Rent payable 61,000 Premium on bonds payable 65,000 Long-term liabilities Bonds payable 512,000 Stockholders equity Common stock, $1.00 par, authorized 400,000 shares, issued 302,000 302,000 Additional paid-in capital 172,000 Retained earnings ? Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $172,000 and for the equipment, $117,000. The allowance for doubtful accounts has a balance of $29,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)