Please Help me with this balance sheet! I would really appreciate it! This is the statement! :)Exercise 3-7 (Algo) Balance sheet preparation; errors [LO3-2, 3-3]

The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors.

Balance sheet:

The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. Additional Information: 1. Cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2028 . 2. The cost of the machinery is $194,000. 3. Accounts receivable includes a $22,000 notes receivable from a customer due in 2027. 4. The notes payable balance includes accrued interest of $7,000. Principal and interest are both due on February 1, 2025. 5 . The company began operations in 2019. Net income less dividends since inception of the company totals $37,000. 6. 52,000 shares of no par common stock were issued in 2019. 200,000 shares are authorized. Required: Prepare a corrected, classified balance sheet. Use the additional information to help determine appropriate classifications and account balances. The cost of machinery and its accumulated depreciation are shown separately. Note: Amounts to be deducted should be indicated by a minus sign. \begin{tabular}{|c|l|l|} \hline \multicolumn{2}{|c|}{ Liabilities and Shareholders' Equity } & \\ \hline Current liabilities: & & \\ \hline & & \\ \hline & & \\ \hline Total current liabilities & & \\ \hline Long-term liabilities: & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Shareholders' equity: & & \\ \hline & & \\ \hline & & \\ \hline Total shareholders' equity & & \\ \hline Total liabilities and shareholders' equity & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ LOS GATOS CORPORATION } \\ \hline \multicolumn{3}{|c|}{ Balance Sheet } \\ \hline \multicolumn{3}{|c|}{ At December 31, 2024} \\ \hline \multicolumn{3}{|c|}{ Assets } \\ \hline \multicolumn{3}{|l|}{ Current assets: } \\ \hline \multicolumn{3}{|l|}{ Cash } \\ \hline \multicolumn{3}{|l|}{ Accounts receivable } \\ \hline \multicolumn{2}{|l|}{ Net accounts receivable } & 0 \\ \hline & \\ \hline \multicolumn{2}{|l|}{ Total current assets } & 0 \\ \hline \multicolumn{3}{|l|}{ Investments: } \\ \hline \multicolumn{3}{|c|}{} \\ \hline \multicolumn{3}{|l|}{ Property, plant, and equipment: } \\ \hline \\ \hline & \\ \hline \multicolumn{2}{|l|}{ Net property, plant, and equipment } & 0 \\ \hline \multicolumn{3}{|l|}{ Intangible assets: } \\ \hline \\ \hline & & \\ \hline \multicolumn{3}{|l|}{ Other assets: } \\ \hline & & \\ \hline & & \\ \hline Total assets & & $ \\ \hline \end{tabular}