Instructions: List your suggestions for improvements in the format of the following balance sheet. Consider both terminology deficiencies as well as classification inaccuracies. Do not copy and paste answers, use your own words. Ignore dollar amounts and 'total amounts'. Use the next page to list your suggestions. You will need to have 20 correct to det fill nninte lthars aro 21 itama innanndin . . ....... - . 20 Note 1. The reserve for contingencies has been created by charges to earned surplus and has been established to provide a cushion for future uncertainties. Vote 2. The inventory account includes only items physically present at the main plant and warehouse. Items located at the company's branch sales office amounting to $60,000 are excluded since the company has consistently followed this procedure for many years