Problem 5-2 Presented below are a number of balance sheet items for Whispering, nc., for the current year, 2017 Goodwill Payroll Taxes Payable Bonds payable Discount on bonds payable Cash Land Notes recewable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) 1,603,030 128,030 Accumulated Depreciation-Equipment 180,621 nventory 303,030 Rent payable (short-term) 15,270 Income taxes payable 363,030 Rent payable (long-term) 483,030 Common stock, $1 par value 448,730 Preferred stock, $10 par value 26,030 Preped expenses 493,030 Equipment s 292,270 242,830 48,030 101,392 83,030 203,030 153,030 90,950 1473,030 124,030 270,470 1,643,030 Delbt investments (trading) 100,440 Accumulated Depreciation Buildings Buildings 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.) WHISPERING, INC. Balance Sheet Assets Liabilities and Stockholders' Equity