Preparation of Balance Sheet Conlon Corporation's December 31 post-closing trial balance contains the following normal account balances:

Interest payable $ 24,000

Allowance for doubtful accounts 1,000

Accumulated depreciation - Equipment 130,000

Inventory 137,000

Organization costs (net of amortization) 19,000

Notes payable (short term) 80,000

Cash 2,000

Building 280,000

Accounts Receivable 21,000

Patent (net of amortization) 50,000

Equipment 266,000

Common Stock 400,000

Retained earnings 353,000

Accumulated depreciation - Building 70,000

Accounts payable 13,000

Leasehold improvements 140,000

Land 1,128,000

Long-term notes payable 950,000

Accumulated depreciation - Leasehold improvements 22,000

Preparation of Balance Sheet