Jaez Corporation is in the process of going through a reorganization. As of December 31, 2020, the company's 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 Inventory Land Buildings Equipment $ 25,000 47,000 146,000 222,000 156,000 $ 25,000 49,000 212,000 262,000 159,000 Allowed Claims Expected Settlement $ $ Liabilities as of the date of the order for relief Accounts payable Accrued expenses Income taxes payable Note payable (due 2023, secured by land) Note payable (due 2025) Liabilities since the date of the order for relief Accounts payable Note payable (due 2022) Stockholders' equity Common stock Deficit 125,000 32,000 24,000 102,000 172,000 22,000 6,000 20,000 102,000 82,000 $ 62,000 112,000 $ 202,000 (235,000) Prepare the balance sheet for Jaez Corporation. (Negative amounts should be indicated by a minus sign.) JAEZ CORPORATION Balance Sheet December 31, 2020 JAEZ CORPORATION Balance Sheet December 31, 2020 Current assets: $ $ 0 Land, buildings, and equipment: 0 Total assets $ 0 Liabilities not subject to compromise Current liabilities: $ 0 Long-term liabilities: 0 $ 0 Liabilities subject to compromise 0 Total assets S 0 Liabilities not subject to compromise Current liabilities: $ 0 Long-term liabilities: 0 $ 0 Liabilities subject to compromise 0 Total liabilities $ 0 Stockholders' equity Total liabilities and shareholders' (deficit) $ 0