Problem 5-2 Presented below are a number of balance sheet items for Carla, Inc., for the current year, 2017. Goodwill $ 127,720 Accumulated Depreciation-Equipment $ 292,380 Payroll Taxes Payable 180,311 Inventory 242,520 Bonds payable 302,720 Rent payable (short-term) 47,720 Discount on bonds payable 15,380 Income taxes payable 101,082 Cash 362,720 Rent payable (long-term) 482,720 Land 482,720 Common stock, $1 par value 202,720 Notes receivable 448,420 Preferred stock, $10 par value 152,720 Notes payable (to banks) 267,720 Prepaid expenses 90,640 Accounts payable 492,720 Equipment 1,472,720 Retained earnings ? Equity investments (trading) 123,720 Income taxes receivable 100,350 Accumulated Depreciation-Buildings 270,580 Notes payable (long-term) 1,602,720 Buildings 1,642,720 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 equity investments (trading) are the same. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment.) CARLA, INC. Balance Sheet

Problem 5-2 Presented below are a number of balance sheet items for Carla, Inc., for the current year, 2017. Goodwill $ 127,720 Accumulated Depreciation-Equipment $ 292,380 Payroll Taxes Payable 180,311 Inventory 242,520 Bonds payable 302,720 Rent payable (short-term) 47,720 Discount on bonds payable 15,380 Income taxes payable 101,082 Cash 362,720 Rent payable (long-term) 482,720 Land 482,720 Common stock, $1 par value 202,720 Notes receivable 448,420 Preferred stock, $10 par value 152,720 Notes payable (to banks) 267,720 Prepaid expenses 90,640 Accounts payable 492,720 Equipment 1,472,720 Retained earnings 2 Equity Investments (trading) 123,720 Income taxes receivable 100,350 Accumulated Depreciation-Buildings 270,580 Notes payable (long-term) 1,602,720 Buildings 1,642,720 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 equity investments (trading) are the same. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment.) CARLA, INC. Balance Sheet Assets