Prepare a corrected classified balance sheet as of June 30, 2017, from the available information, adjusting the account balances using the additional information.

E5-6B (LO2,3) (Corrections of a Balance Sheet) The bookkeeper for Odie Company has prepared the following balance sheet as of June 30, 2017. ODIE COMPANY BALANCE SHEET AS OF JUNE 30, 2017 Cash Accounts receivable (net) Inventories Equipment (net) Goodwill 26,500 Notes and accounts payable $126,000 81,000 Long-term liabilities 93,000 Stockholders' equity 187,000 50,000 50,000 261,500 $437,500 $437,500 The following additional information is provided 1. Cash includes $800 in a petty cash fund and $14,000 in a bond sinking fund 2. The net accounts receivable balance is comprised of the following three items: (a) accounts receivable-debit balances 3. Merchandise inventory costing $11,200 was shipped out on consignment on June 30, 2017. The ending inventory balance 4. $96,000; (b) accounts receivable-credit balances $8,000; (c) allowance for doubtful accounts $7,000 does not include the consigned goods. Receivables in the amount of $11,200 were recognized on these consigned goods Equipment had a cost of $260,000 and an accumulated depreciation balance of $73,000 Taxes payable of $21,500 were accrued on June 30. Odie Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance, but was offset against the taxes payable amount 5. E5-6B (LO2,3) (Corrections of a Balance Sheet) The bookkeeper for Odie Company has prepared the following balance sheet as of June 30, 2017. ODIE COMPANY BALANCE SHEET AS OF JUNE 30, 2017 Cash Accounts receivable (net) Inventories Equipment (net) Goodwill 26,500 Notes and accounts payable $126,000 81,000 Long-term liabilities 93,000 Stockholders' equity 187,000 50,000 50,000 261,500 $437,500 $437,500 The following additional information is provided 1. Cash includes $800 in a petty cash fund and $14,000 in a bond sinking fund 2. The net accounts receivable balance is comprised of the following three items: (a) accounts receivable-debit balances 3. Merchandise inventory costing $11,200 was shipped out on consignment on June 30, 2017. The ending inventory balance 4. $96,000; (b) accounts receivable-credit balances $8,000; (c) allowance for doubtful accounts $7,000 does not include the consigned goods. Receivables in the amount of $11,200 were recognized on these consigned goods Equipment had a cost of $260,000 and an accumulated depreciation balance of $73,000 Taxes payable of $21,500 were accrued on June 30. Odie Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance, but was offset against the taxes payable amount 5