Problem 5-2 Presented below are a number of balance sheet items for Ayayai, 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) $ 129,170 Accumulated Depreciation-Equipment 181,761 Inventory 304,170 Rent payable (short-term) 15,100 Income taxes payable 364,170 Rent payable (long-term) 484,170 Common stock, $1 par value 449,870 Preferred stock, $10 par value 269,170 Prepaid expenses 494,170 Equipment ? Equity investments (trading) 101,800 Accumulated Depreciation-Buildings 1,604,170 Buildings $ 292,100 243,970 49,170 102,532 484,170 204,170 154,170 92,090 1,474,170 125,170 270,300 1,644,170 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.) AYAYAI, INC. Balance Sheet Assets Liabilities and Stockholders' Equity