How was the answers obtained in bellow problem. thanks, Fill in the blanks (_________) with the correct entries. Assets Liabilities and Stockholders' Equity Current asset ; Current liabilities Cash $250,000 Accounts payable $ 620,000 Accounts receivable (_________ less) allowance for doubtful accounts of $20,000) 1,320,000 Notes payable to banks 130,000 Accrued wages ________________________ Taxes owed 100,000 Total current liabilities $1,250,000 Inventory 1,410,000 Total current assets____________________ Long-term debt_________________________ Land ____________________________ Stockholders' equity Plant andequipment Preferred stock 1,000,000 ($2,800,000 lessaccumulated Common stock ($1 par, 750,000 shares depreciation _________)2,110,000 authorized, 700,000 outstanding) _________ Total assets$5,390,000 Retained earnings ----------------- Total stockholders' equity$3,140,000 Total liabilities and equity __________________