Problem 5-2 Presented below are a number of balance sheet items for Grouper, Inc, for the current year, 2017 Goodwill Payroll Taxes Payable $ 126,300 Accumulated Depreciation-Equipment $292,150 241,100 46,300 99,662 481,300 201,300 151,300 89,220 1,471,300 122,300 270,350 1,641,300 178,891 Inventory 301,300 Rent payable (short-term) Bonds payable Discount on bonds payable Cash Land 15,150Income taxes payable 361,300 Rent payable (long-term) 481,300 Common stock, $1 par value 447,000 Preferred stock, $10 par value 266,300 Prepaid expenses 491,300 Equipment Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable ?Debt investments (trading) 98,930 Accumulated Depreciation-Buildings 1,601,300 Buildings Notes payable (long-term) Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same. (List Current Assets in the order of liquidity, List Property, Plant and Equipment in order of Land, Building and Equipment.) GROUPER, INC. Balance Sheet Assets GROUPER, INC. Balance Sheet Assets