Please, Solve the Question Within 6 Hours.

Q3: Duggan Corporation has the following accounts included in its December 31, 2019, trial balance: Accounts Receivable $110,000; Inventory $290,000; Allowance for Doubtful Accounts $8,000; Patents $72,000; Prepaid Insurance $9,500; Accounts Payable $77,000; Cash $30,000; Advance $10,000; Trading Securities comprising of T-bill and commercial paper $5,000 having maturity up 60 days and 90 days respectively. Stock investment $25,000 with company intension to sell it after 6 months; Cash specified for charity $30,000; Deferred taxes $5,000; Line of credit $60,000 Requirement 1. Prepare the current assets section of the balance sheet, listing the accounts in proper sequence. (03) 2. Discuss, why some of the accounts mention above are not reported under current assets? (1)