Jaez Corporation is in the process of going through a reorganization. As of December 31, 2017, the companys accountant has determined the following information although the company is still several months away from emerging from the bankruptcy proceeding.

	Book Value			Fair Value
Assets
Cash	$	28,000		$	28,000
Inventory		50,000			52,000
Land		155,000			215,000
Buildings		225,000			265,000
Equipment		159,000			162,000

	Allowed Claims			Expected Settlement
Liabilities as of the date of the order for relief
Accounts payable	$	128,000		$	25,000
Accrued expenses		35,000			9,000
Income taxes payable		27,000			23,000
Note payable (due 2020, secured by land)		105,000			105,000
Note payable (due 2022)		175,000			85,000
Liabilities since the date of the order for relief
Accounts payable	$	65,000
Note payable (due 2019)		115,000
Stockholders' equity
Common stock	$	205,000
Deficit		(238,000	)

Prepare a balance sheet in appropriate form. (Negative amounts should be indicated by a minus sign.)