P6-1. Prepare Balance Sheet. Larkin Corporation provided the following account balances prepared at De 31 of the current year. Account Debit Credit $ 891,500 10,000 $ 375,000 324,500 877,185 200,800 630,000 725,000 235,000 345,000 Additional paid-in capital Dividends payable Equipment under capital lease Intangible assets - net Merchandise inventory Income taxes payable Cash Notes payable, due in 10 years Accumulated other comprehensive loss Current portion of long-term debt Property, plant, and equipment - net Investments in affiliate companies (noncurrent) Accounts receivable Bonds payable, due in 20 years Investments at fair value (current) Accounts payable Retained earnings Obligations under capital leases Obligations under pension plans Deferred tax liability (noncurrent) Common stock, $1 par value 3,245,000 123,543 240,007 1,000,000 678,590 500,500 1,250,750 240,000 609,575 330,700 625,000 Required a. Prepare the balance sheet at December 31st using the report format. b. Prepare the balance sheet at December 31st using the account format