Presented below is the balance sheet of Sheffield Corporation for the current year, 2025. Sheffield Corporation Balance Sheet December 31, 2025 Current assets $488,870 Current liabilities $ 383,870 Investments 643,870 Long-term liabilities 1,003,870 Property, plant, and equipment 1,723,870 Stockholders' equity 1,773,870 Intangible assets 305,000 $3,161,610 $3,161,610 The following information is presented. 1. 2. 3. 4. The current assets section includes cash $153,870, accounts receivable $173,870 less $13,870 for allowance for doubtful accounts, inventories $183,870, and unearned rent revenue $8,870. Inventory is stated on the lower-of-FIFO-cost-or-net realizable value. The investments section includes the cash surrender value of a life insurance contract $43,870; investments in common stock, short-term $83,870 and long-term $273,870; and bond sinking fund $242,260. The cost and fair value of investments in common stock are the same. Property, plant, and equipment includes buildings $1,043,870 less accumulated depreciation $363,870, equipment $453,870 less accumulated depreciation $183,870, land $503,870, and land held for future use $270,000. Intangible assets include a franchise $168,870, goodwill $103,870, and discount on bonds payable $32,260. 5. Current liabilities include accounts payable $143,870, notes payable-short-term $83,870 and long-term $123,870, and income taxes payable $32,260. 6. Long-term liabilities are composed solely of 7% bonds payable due 2033. 7. Stockholders' equity has preferred stock, no par value, authorized 200,000 shares, issued 70,000 shares for $420,000; and common stock, $1 par value, authorized 400,000 shares, issued 100,000 shares at an average price of $10. In addition, the corporation has retained earnings of $353,870. Prepare a balance sheet in good form, adjusting the amounts in each balance sheet classification as affected by the information given above. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)