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It says im missing something but i cant seem to find what it is ALMWAY CORPORATION Balance Sheet At December 31, 2024 Assets Current assets:

It says im missing something but i cant seem to find what it is

image text in transcribedimage text in transcribed ALMWAY CORPORATION Balance Sheet At December 31, 2024 Assets Current assets: Other assets: Total assets $983,000 Liabilities and Shareholders' Equity Current liabilities: Accounts payable Interest payable Notes payable (current) Notes payable (current maturities of long-term debt) Total current liabilities Long-term liabilities: Notes payable (long-term) Bonds payable Total long-term liabilities Total liabilities Shareholders' equity: Common stock Retained earnings \begin{tabular}{l|l|r} \hline & & $ \\ \hline & & 99,000 \\ \hline & & 32,000 \\ \hline & & 42,000 \\ \hline & & 12,400 \\ \hline & & 185,400 \end{tabular} Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $42,000 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 $37,000 that the company has not used and is currently listed for sale. 3. The cash account includes $27,000 restricted in a fund to pay bonds payable that mature in 2027 and $35,000 restricted in a three-month Treasury bill. 4. The notes payable account consists of the following: a. a $42,000 note due in six months. b. a $62,000 note due in six years. c. a $62,000 note due in five annual installments of $12,400 each, with the next installment due February 15, 2025. 5. The $72,000 balance in accounts receivable is net of an allowance for uncollectible accounts of $9,000. 6 . The common stock account represents 112,000 shares of no par value common stock issued and outstanding. The corporation has 600,000 shares authorized

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