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Exercise 5-5 Sarasota Company has decided to expand its operations. The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds

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Exercise 5-5 Sarasota Company has decided to expand its operations. The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds for expansion SARASOTA COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017 Current assets $231,000 341.000 402.000 571,000 161.000 175,000 81.000 91,000 Accounts receivable (net) Inventory (lower-of-average-cost-or-market) Equity Investments (trading) at costrvale $121,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash Surrender value of Me insurance Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Premium on bonds payable Long-term abilities bonds payable Stockholders' equity Common stock, $1.00 par, authorized 400,000 shares, issued 291,000 Additional paid-in capital Retained earnings 13,000 135,000 126,000 83,000 50,000 54,000 501,000 291,000 161,000 MacBook Pro Search or type URL Prepare a revised balance sheet given the available information Assume that the accumulated deprecation balance for the buildings is $161.000 and for the woment. 5106.000. The once for do account has a balance of $18,000. The pension a tion is considered a long terma ty. (List Current Assets ander of uity. 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) SARASOTA COMPANY Balance Sheet Assets Powi819% M A 19 BU MacBook Pro Q Search or type URL and Stockholders' Equity Show All X MacBook Pro c a Search or type URL ApS

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