Part 5: Note: You must complete parts 1, 2, 3, and 4 of this comprehensive problem before completing part 5. Based on the following information and the post-closing trial balance that follows, prepare a balance sheet in report form at December 31 of the current year: The merchandise inventory is stated at cost by the LIFO method. The product warranty payable is a current liability. Vacation pay payable: Current liability Long-term liability The unfunded pension liability is a long-term liability, Notes payable: Current liability Long-term liability Kornett Company Post-Closing Trial Balance December 31, 2015 $7,140 3,360 $70,000 630,000 Account Title Debit Balances Credit Balances Petty Cash 4,500 Cash 243,960 Notes Receivable. 100,000 Accounts Receivable 470,000 Allowance for Doubtful Accounts 16.000