Problem 5-5 Presented below is the balance sheet of Sargent Corporation for the current year, 2017 MARIGOLD CORPORATION BALANCE SHEET DECEMBER 31, 2017 Current assets 488,150 Current liabilities 643,150 Long-term liabilities s 383.150 1,003,150 1,773,150 $3.159,450 Property, plant, and equipment Intangible assets 1,723,150 Stockholders' equity 305,000 S3,159,450 The following information is presented. 1. The current assets section includes cash $153,150, accounts receivable $173,150 less $13,150 for allowance for doubtful accounts, inventories $183,150, and unearned rent revenue $8,150. Inventory is stated on the lower-of-FIFO 2. The metments section includes the cash surrender value o a life insurance contract S43 1503 investments n common stock, short-term $83 150 and ong-term $273 150) and bond sinking fund S243 700 The cost and fair value of 3. property, plant, and equipment includes buildings $1,043 150 less accumulated deprec at $363,150, equipment $453,150 less accumulated depreciation $183, 150, land s503 150 and land held for uture ue s270 000 investrments in common stock are the same. Intangible assets include a franchise $168,150, goodwill $103,150, and discount on bonds payable $33,700. Current liabilities include accounts payable $143,150, notes payable-short-term $83,150 and long-term $123,150, and income taxes payable $33,700. 4. 6. Long-term liabilities are composed solely of 7% bonds payable due 2025. 7. Stockholders' equity has preferred stock, no par value, authorized 200,000 shares, issued 73,150 shares for $438,900, and common stock, $1.00 par value, authorized 400,000 shares, issued 103,150 shares at an average price of $10. In addition, the corporation has retained earnings of $302,750. Prepare a balance sheet in good form, adjusting the amounts in each balance sheet classification as affected by the information given above. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) MARIGOLD CORPORATION Balance Sheet alance Shest Liabiitis and Stockholders' Equity Liabiltisand Stockholders' Equity Click if you would liketo Show Work for this quistion: e Show Work