Problem 1: Balance Sheet Post-closing trial balances of accounts (12/31/22) Common stock 100,000 Accounts payable Bonds payable 30,000 LIFO reserve 750,000 70,000 Accumulated other comprehensive 50,000 Accounts receivable 230,000 income (debit balance) Interest payable (due 2023) 22,500 Cash and equivalents 70,000 Additional paid-in capital 1,000,000 Discount on bonds payable 45,000 Marketable Securities (to be sold 95,000 Equipment 800,000 2023) Inventory 420,000 Allowance for sales returns 10,000 Goodwill 400,000 Investment in debt securities (matures 2028) 312,000 Taxes payable 70,000 Asset retirement obligation (due 245,000 2025) Natural resource (gas reserves) 1,000,000 Patent 50,000 Retained earnings 811,500 Deferred revenue 120,000 Allowance for uncollectible accounts 23,000 Accumulated depreciation 220,000 $90,000 of the deferred revenue will be earned in 2023, the remaining amount will be earned in 2024. $75,000 of the bonds will mature in 2023 along with $4,500 of the discount associated with the bonds. The remaining amount of bonds and associated discount will mature in the years beyond 2023. 1. Determine the total book value of current assets. 2. Determine the total book value of property, plant and equipment. 3. Determine the total book value of long-term investments. 4. Determine the total book value of intangible assets. 5. Determine the total book value of current liabilities. 6. Determine the total book value of long-term liabilities. 7. Determine the total book value of equity.