Please use the following information to determine what would be reported on the balance sheet as of 12/31/2019. Presented below are ending balances from Jumping Jack's 12/31/2019 post closing trial balance. Cash 28,500 Accounts Receivable, net 59,500 Inventory 31,680 Prepaid Rent 29,250 Land (part of PP&E) 170,000 Trademark 120,000 Notes Payable 132,000 Common Stock 61,410 Retained Earnings 245,520 The company uses FIFO costing to value for its inventory. The net realizable value of inventory is $30,000. The historical cost of the inventory is $31,680. The inventory can be sold for $35,000. O The inventory should be reported at $35,000. The recorded balance for inventory is correct. O None of the provided answers are correct. The inventory should be reported at $30,000