Question 8 of 9 11 s 5 The bookkeeper for Novak Company has prepared the following balance sheet as of July 31, 2025. The following additional information is provided. 1. Cash includes $1,344 in a petty cash fund and $16,800 invested in a 24-month certificate of deposit. 2. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $49,280 and (b) allowance for doubtful accounts $3,920. 3. Inventory costing $5,936 was shipped out on consignment on July 31,2025 . The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,936 were recognized on these consigned goods. 4. Equipment had a cost of $125,440 and an accumulated depreciation balance of $31,360. 5. Income taxes payable of $6,720 were accrued on July 31 . Novak Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset against the income taxes payable amount. Liabilities and Stockholders' Equity s $ s 5 The bookkceper for Novak Company has prepared the following balance sheet as of July 31.2025. The following additional information is provided. 1. Cashincludes $1,344 in a petty cash fund and $16,800 inwested in a 24 -inonth certificate of deposit. 2. The net accounts receivable balance is comprised of the following two items; (a) accounts receivable 549.280 and (b) allowance for doubtul accounts $3,920. 3. Inventory costing \$5,936 was shipped out on consignment on July 31, 2025. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5.936 were recognized on these consigned goodk. 4. Equipment had a cost of $125,440 and an sccumulated depreciation balance of $31,360. 5. Income taxes payble of $6,720 were accrued on July 31 . Novak Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset against the income taxes payable amount. Prepare a corrected classified balance shcet as of July 31.2025 , from the available information, adjusting the account balances using the additional information. (List Current Assets in order of liquidity.)