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Presented below is the trial balance ofCullumberCorporation at December 31, 2020. Presented below is the trial balance of Cullumber Corporation at December 31, 2020. Debit

Presented below is the trial balance ofCullumberCorporation at December 31, 2020.

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Presented below is the trial balance of Cullumber Corporation at December 31, 2020. Debit Credit Cash $ 198,550 Sales $ 8,101,220 Debt Investments (trading) (at cost, $145,000) 154,220 Cost of Goods Sold 4,800,000 Debt Investments (long-term) 300,550 Equity Investments (long-term) 278,550 Notes Payable (short-term) 91,220 Accounts Payable 456,220 Selling Expenses 2,001,220 Investment Revenue 64,400 Land 261,220 Buildings 1,041,550 Dividends Payable 137,550 Accrued Liabilities 97,220Accounts Receivable 436,220 Accumulated Depreciation-Buildings 152,000 Allowance for Doubtful Accounts 26,220 Administrative Expenses 901,400 Interest Expense 212,400 Inventory 598,550 Gain 81,400 Notes Payable (long-term) 901,550 Equipment 601,220 Bonds Payable 1,001,550 Accumulated Depreciation-Equipment 60,000 Franchises 160,000 Common Stock ($5 par) 1,001,220 Treasury Stock 192,220 Patents 195,000 Retained Earnings 79,550 Paid-in Capital in Excess of Par 81,550 Totals $12,332,870 $12,332,870Prepare a balance sheet at December 31, 2020,. for Cullumber Corporation. (Ignore income taxes}. [List Current Assets in order of liquidity. List Property, Plant anal Equipment in order of Land, Building anal Equipment. Enter account name onhir and do not provide the descriptive information provided in the question.)I CULLUMBER CORPORATION Balance Sheet 1r 4 1? M 1

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