Parton You have already studied classified balance sheet in the third chapter of this course. The following partial classified balance sheet contain some notes that need to be identified and highlighted to expand your knowledge and background in this regard. $100.000 27.500 37.000 75,000 220,000 79.500 Assets Current Assets Cash Unclaimed payroll checks Trading securities (fair value $30.000) at cost Accounts receivables (less bad debe reserve) Inventories (at lower of cost or market) Total Assets Tangible Assets Land (less accumulated depreciation) Building net of depreciation) Nettangible assets Long-term Investment Stocks and bonds Treasury Hock Total long-term investments Other Assets Discount on bond payable Sinking and Other total assets 550.000 630.000 100.000 70,000 170.000 275.000 994.000 Total Assets 2 273 900 In view of careful investigation of the above format, indicate the following 1. Deficiencies of the danified balance sheet, if any? (1.5 Mark 2. Limitations of balance sheet, if any? (1.3 Mark 3 Ethical issues involved in the abowe format of the classified balance sheet? (15 Mark 4. Completeness of clasified balance sheet? (1.5 Mark)