Hello,

Can you please review the following question below? I am not sure what is missing on the Balance Sheet. Thank you

The following is a December 31, 2021, post-closing trial balance for Almway Corporation Account Title Debits Credits Cash 71,000 136,000 73,000 213,000 6,000 116,000 433,000 $ 123,000 Investment in equity securities Accounts receivable Inventory Prepaid insurance (for the next 9 months) Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patent (net) Accounts payable Notes payable Interest payable Bonds Payable 113,000 73,000 23,000 101,000 169,000 33,000 253,000 339,000 113,000 Common stock Retained earnings Totals $1,194,000 $1,194,000 Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $43,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year. 2. The land account includes land which cost $38,000 that the company has not used and is currently listed for sale. 3. The cash account includes $28,000 restricted in a fund to pay bonds payable that mature in 2024 and $36,000 restricted in a three-month Treasury bill 4. The notes payable account consists of the following: a. a $43,000 note due in six months. b. a $63,000 note due in six years. c. a $63,000 note due in five annual installments of $12,600 each, with the next installment due February 15, 2022 5. The $73,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $7,000. 6. The common stock account represents 113,000 shares of no par value common stock issued and outstanding. The corporation has 500,000 shares authorized. Required: Prepare a classified balance sheet for the Almway Corporation at December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) ALMWAY CORPORATION Balance Sheet At December 31, 2021 Assets Current assets: Cash and cash equivalents $ 43,000 Short-term investments 93,000 Accounts receivable 80,000 Net accounts receivable 80,000 Inventory 213,000 Prepaid insurance 6,000 435,000 Total current assets Investments: Investment in equity securities 43,000 38,000 Land held for sale Restricted cash 28,000 Total investments 109,000 Property, plant, and equipment Land 78,000 Buildings 433,000 Equipment 123,000 634,000 (113,000) Less: Accumulated depreciation - buildiings (73,000) Less: Accumulated depreciation - equipment 448,000 Net property, plant, and equipment Intangible assets Patent (net) 23,000 $ 1,015,000 Total assets Liabilities and Shareholders' Eqquity Current liabilities: Accounts payable $ 101,000 Interest payable 33,000 Notes payable 43,000 12,600 Total current liabilities 189,600 Long-term liabilities Notes payable 113,400 $ Bonds payable 253,000 Total long-term liabilities 366,400 Total liabilities 556,000 Shareholders' equity: Common stock 339,000 Retained earnings 113,000 Total shareholders' equity 452,000 1,008,000 Total liabilities and shareholders' equity