Problem 5-2 Presented below are a number of balance sheet items for Concord, Inc., for the current year, 2017. Goodwill Payroll Taxes Payable Bonds payable Discount on bonds payable Cash Land Notes receivable Notes payable (to banks) Accounts payable Retained earnings Income taxes receivable Notes payable (long-term) $ 128,390 180,981 303,390 15,350 363,390 483,390 449,090 268,390 493,390 ? 101,020 1,603,390 Accumulated Depreciation Equipment Inventory Rent payable (short-term) Income taxes payable Rent payable (long-term) Common stock, $1 par value Preferred stock, $10 par value Prepaid expenses Equipment Debt investments (trading) Accumulated Depreciation-Buildings Buildings $ 292,350 243,190 48,390 101,752 483,390 203,390 153,390 91,310 1,473,390 124,390 270,550 1,643,390 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.)