Presented below is the balance sheet of Kishwaukee Corporation as of December 31, 2014.
 

KISHWAUKEE CORPORATION BALANCE SHEET DECEMBER 31, 2014
Assets
Goodwill (Note 2)		$  124,450
Buildings (Note 1)		1,640,000
Inventory		316,550
Land		950,000
Accounts receivable		174,450
Treasury stock (50,000 shares)		91,450
Cash on hand		180,350
Assets allocated to trustee for plant expansion
Cash in bank		74,450
Debt investments (held-to-maturity)		142,450
		$3,694,150
Equities
Notes payable (Note 3)		$  604,450
Common stock, authorized and issued, 1,000,000 shares, no par		1,154,450
Retained earnings		807,450
Noncontrolling interest		59,450
Appreciation capital (Note 1)		574,450
Income tax payable		79,450
Reserve for depreciation recorded to date on the building		414,450
		$3,694,150

Note 1: Buildings are stated at cost, except for one building that was recorded at appraised value. The excess of appraisal value over cost was $574,450. Depreciation has been recorded based on cost.

Note 2: Goodwill in the amount of $124,450 was recognized because the company believed that book value was not an accurate representation of the fair value of the company. The gain of $124,450 was credited to Retained Earnings.

Note 3: Notes payable are long-term except for the current installment due of $100,000.

Prepare a corrected classified balance sheet in good form. The notes above are for information only.