Problem 5-2 Presented below are a number of balance sheet items for Sheridan, Inc., for the current year, 2017 Goodwill s 127,720 Accumulated Deprecdiation-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 recelvable 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 Debt investments (trading) 7 123,720 Income taxes recelvable. 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 investments (trading) are the same. (List Current Assets in the order of liquidity. List Property. Plant and Equipment in order of Land, B SHERIDAN, INC Balance Sheet Assets