Q2: WIDA stationaries is an Indian small size stationaries manufacturing company which is famous for its economical product around India, Nepal, Bhutan and Afghanistan. The company balance sheet information is given below and wants it be used for preparation of well classified and well-presented balance sheet on 31-Dec-2019.

Account Receivables (net)	$243,000	Pension fund	$45,000
Accumulated Depreciation-Equipment	105,000	Bonds payable	230,000
Cash Surrender value of insurance	88,000	Inventory	155,000
Financial Securities (Long term Investment)	120,000	Tax payable	10,000
Short term Investment	60,000	Copyright	23,000
Accumulated Depreciation-Building	80,000	Cash	143,000
Sinking fund	85,000	Equipment	921,000
Account Payable	61,300	Land	1,000,000
Patents	100,000	Common stock	840,000
Preferred stock	410,000	Prepared rent	12,000
Notes Payable (Long term)	72,000	Cash Equivalents	65,000
Building	830,000	Retained Earnings	?
Pension Payable (Long Term)	220,000

Land held for speculation (Long term investment) 800,000

1. The allowance for doubtful account has a balance of 43,000.
2. The inventory is already updated on LCM rule.
3. Cash balance doesnt not include cash equivalent.
4. Cash balance includes a restricted cash of 10,000 held as security on rented warehouse
5. The short term investment has a current market price of 55,000 on closing day of year.
6. The copyright and patents are already adjusted for amortization.
7. Account Payable worth $ 10,000 created on 05-Jan-2020 were recorded on 31-Dec-2019 balance sheet.
8. Business Receipt tax of $2000 were generated in Jan 2020 but recorded in 31-Dec-2019 tax payable account.

Requirement: Prepare a classified balance sheet with proper method of presenting its each item.