Exercises. 247 $ 88,500 $4,000,000 2.400,000 Trading Secute a cost $145,000) Cool of Goods Solo Long-term investments in Banda Long term investment in Stocks Short-term Notes Payable Accounts Payable saling Expenses 45.000 227.500 Dividends 1,000,000 31,500 130,000 520,000 217,500 12,500 Dividends Payable Accued Lines Accounts Receivable Accumulated Depreciati n gs Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventories Extraordinary dan Prior Period AdimentDept Error Long-term Notes Payable 480,000 105.500 298,500 40.000 70.000 450,000 300.000 CO0.000 30.000 80.000 500,000 Bonds Payable Accumulated Depreciation Equipment Franchise et of $10,000 amortization) Common Stock (95 part resury Stock Patent (net of $30,000 amortization) Hetained Eamings Additional Paid in Capital Total 95.500 97,500 109,000 40.000 $6,227,500 $6,227,500 Instructions Prepare a balance sheet at December 31, 2007, for Do Corporation. Ignore income taxes. 3-4 E5-12 (Current Liabilities) Norma Smith is the controller of Baylor Corporation and is responsible for the preparation of the year-end financial statements. The following transactions occurred during the year. CAT