Presented belowis the balance sheet of Larkspur Corporation for the current year, 2025. The following information is presented. 1. The current assets section includes cash $153.570, accounts receivable $173,570 iess $13,570 for allowance for doubtful accounts, inventories $183,570, and unearned rent revenue $8.570. inventoryis stated on the lower-of-F1FO cost-or-net realitable value. 2. The investments sectien includes the cash surrender value of a life insurance contract $43.570; investments in common stock: short-term $83,570 and long.term $273.570, and bond sinking fund $242,860. The cost and fair value of investments in commonstock are the same. 3. Property plant, and equipment includes puildings 51,043.570 less accumulated depreciation $363,570, equipment 5453.570 lev accumulated depreciation $183,570, land $503.570, and land held for future use $270000 4. Intangble ascets include a franchise $160.570, goodwill $103.570, and dixcount on bonds payable $32.660. 5. Current fiabilities include accounts payable $143.570, notes yyble-short term $63.570 and long term $123,570, and income taxes payable 532860 . 6. Lonsterm liabsties are composed solely of 7% bends payable due 2033 7. Stockholders' equity has preferred stock, no par value, authorired 200,000 shares, tsued 70,000 shares for $420,000, and common stock, $1 par value, authorized 400,000 shares, isued 100,000 shares at an average peice of $10. In addition. the corporation has retained earnings of $353.570. Prepart a balance shete in good form, adjusting the amounts in cach balance sheet classification as affected by the information given above. Uist Current Assets in ander of liquidity List Property, Plant, and Equipment in onder of Land, Buildings, and Equipment Enter account monnluand don notovide the descriptive information provided in the question) Liabilities and Stockholders' Equity 5 Presented belowis the balance sheet of Larkspur Corporation for the current year, 2025. The following information is presented. 1. The current assets section includes cash $153.570, accounts receivable $173,570 iess $13,570 for allowance for doubtful accounts, inventories $183,570, and unearned rent revenue $8.570. inventoryis stated on the lower-of-F1FO cost-or-net realitable value. 2. The investments sectien includes the cash surrender value of a life insurance contract $43.570; investments in common stock: short-term $83,570 and long.term $273.570, and bond sinking fund $242,860. The cost and fair value of investments in commonstock are the same. 3. Property plant, and equipment includes puildings 51,043.570 less accumulated depreciation $363,570, equipment 5453.570 lev accumulated depreciation $183,570, land $503.570, and land held for future use $270000 4. Intangble ascets include a franchise $160.570, goodwill $103.570, and dixcount on bonds payable $32.660. 5. Current fiabilities include accounts payable $143.570, notes yyble-short term $63.570 and long term $123,570, and income taxes payable 532860 . 6. Lonsterm liabsties are composed solely of 7% bends payable due 2033 7. Stockholders' equity has preferred stock, no par value, authorired 200,000 shares, tsued 70,000 shares for $420,000, and common stock, $1 par value, authorized 400,000 shares, isued 100,000 shares at an average peice of $10. In addition. the corporation has retained earnings of $353.570. Prepart a balance shete in good form, adjusting the amounts in cach balance sheet classification as affected by the information given above. Uist Current Assets in ander of liquidity List Property, Plant, and Equipment in onder of Land, Buildings, and Equipment Enter account monnluand don notovide the descriptive information provided in the question) Liabilities and Stockholders' Equity 5
