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Classified Balance Sheet-Including Notes Adjusted account balances and supplemental information for Brockbank Research Corp, as of December 31, 2015, are as follows: Accounts Payable $ 32,160 Insurance Claims Receivable $120,000 Accounts Receivable-Trade 57,731 Inventories 201,620 Accumulated Depreciation Leasehold Investment in Unconsolidated Improvements and Equipment 579,472 Subsidiary 80,000 Additional Paid-in Capital 265,000 Land 6,000 Allowance for Bad Debts 1,731 Leasehold Improvements 65,800 Automotive Equipment 132,800 74%-12% Mortgage Notes Payable 200,000 Cash 25,600 Notes Payable--Banks (due in 2016) 12,000 Cash Fund for Bond Retirement 3,600 Notes Payable-Trade 63,540 Common Stock 35,000 Patent Licenses 57,402 Deferred Income Tax Liability 45,000 Prepaid Insurance 5,500 Dividends Payable 37,500 Profit Sharing, Payroll, and Vacation Franchises 12,150 Payable 40,000 Furniture, Fixtures, and Store Equipment 769,000 Retained Earnings 225,800 Supplemental information is as follows: (a) Depreciation is provided by the straight-line method over the estimated useful lives of the assets. (b) Common stock is $1 par, and 35,000 of the 100,000 authorized shares were issued and are outstanding. (c) The cost of an exclusive franchise to import a foreign company's ball bearings and a related patent license are being amortized on the straight-line method over their remaining lives: franchise, 10 years; patents, 15 years. (d) Inventories are stated at the lower of cost or market; cost was determined by the specific identifica tion method. (e) Insurance claims based on the opinion of an independent insurance adjustor are for property damages at the central warehouse. These claims are estimated to be two-thirds collectible in the following year and one-third collectible thereafter. () The company leases all of its buildings from various lessors. Estimated fixed-lease obligations are $50,000 per year for the next 10 years. The leases do not meet the criteria for capitalization (9) The company is currently in litigation over a claimed overpayment of income tax of $13.000. In the opinion of counsel, the claim is valid. The company is contingently liable on guaranteed notes worth $12,000. Instructions: Prepare a properly classified balance sheet. Include all notes and parenthetical notations necessary to properly disclose the essential financial data