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Please help answer this! The red box means wrong answer, please help me correct it! Thanks and give kudos. Teal Company has decided to expand

Please help answer this! The red box means wrong answer, please help me correct it! Thanks and give kudos.
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Teal Company has decided to expand its operations. The bookkeeper recently completed the following balance sheet in order to obtain additional funds for expansion. $238.000 348,000 409,000 148,000 578,000 168,000 183,000 TEAL COMPANY BALANCE SHEET FOR THE YEAR ENDED 2020 Current assets Cash Accounts receivable (net) Inventory (lower-of-average-cost-or-market) Equity investments (marketable) at cost (fair value $128,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash surrender value of life insurance Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) Pension obligation Rent payable Premium on bonds payable Long-term liabilities Bonds payable Stockholders' equity Common stock, $1.00 par, authorized 400,000 shares, issued 298,000 Additional paid-in capital Retained earnings 88,000 98,000 20,000 143,000 133,000 90,000 57,000 61,000 508,000 298,000 168,000 ? Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $168,000 and for the equipment, $113,000. The allowance for doubtful accounts has a balance of $25,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) TEAL COMPANY Balance Sheet December 31, 2020 Assets Current Assets Cash $ 23800 Equity Investments 14800 SA 373000 Accounts Receivable Less : Allowance for Doubtful Accounts 25000 i 34800 Prepaid Expenses 2000 Inventory 40900 Total Current Assets Long-term Investments Land 18300 Cash Surrender Value of Life Insurance 9800 Total Long-term Investments Property. Plant and Equipment Buildings 746000 Less : Accumulated Depreciation Buildings 168000 i 57800 Equipment 281000 113000 i 16800 Less : Accumulated Depreciation Equipment Total Property, Plant and Equipment Intangible Assets Goodwill Total Assets TEAL COMPANY Balance Sheet December 31, 2020 Assets $ 238000 148000 373000 counts 25000 348000 20000 409000 $ 1163000 183000 98000 281000 746000 -Buildings 168000 i 578000 281000 n-Equipment 113000 168000 746000 88000 $ 2278000 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable VA 14300 Notes Payable 13300 Rent Payable 5700 Total Current Liabilities Long-term Liabilities Bonds Payable 508000 61000 Add Premium on Bonds Payable 56900 9000 Pension Obligation Total Liabilities Stockholders' Equity 298000 Common Stock Additional Paid-in Capital 168000 46600 Retained Earnings 82000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity $ $ 143000 133000 57000 $ 333000 $ 508000 61000 569000 90000 659000 992000 298000 168000 466000 820000 1286000 2611000

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