Exercise 5-7 Presented below are selected accounts of Cheyenne Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 56,300 99,900 258,800 39,400 46,300 38,100 37,900 59,200 Cost of Goods Sold Notes Receivable Accounts Receivable Inventory (raw materials) Supplies Expense Allowance for Doubtful Accounts Licenses Additional Paid-in Capital Treasury Stock $2,134,500 41,000 171,010 186,240 59,680 13,110 19,680 87,790 22,670 The following additional information is available. 1. Inventories are valued at lower-of-cost-or-market using LIFO. 2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $54,682. 3. The short-term investments have a fair value of $31,290. 4. The notes receivable are due April 30, 2022, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrue interest due on December 31, 2020.) 5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $53,900 are pledged as collateral on a bank loan. 6. Licenses are recorded net of accumulated amortization of $13,390. 7. Treasury stock is recorded at cost. Prepare the current assets section of Cheyenne Company's December 31, 2020, balance sheet, with appropriate disclosures. (List Current Assets in order of liquidity. Enter account name only and do not provide the descriptive information provided in the question.) CHEYENNE COMPANY Balance Sheet (Partial) CHEYENNE COMPANY Balance Sheet (Partial) $