revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings $166,000 and for the equipment, 111,000. The allowance for doubtful account has a balance of $23000. The pension obligation is considered a long-term liability.

FOR THE YEAR ENDED 2020 Current assets Cash $236,000 Accounts receivable (net) 346,000 Inventory (lower-of-average-cost-or-market) 407,000 Equity investments (marketable)-at cost (fair value $126,000) 146,000 Property, plant, and equipment Buildings (net) 576,000 Equipment (net) 166,000 Land held for future use 181,000 Intangible assets Goodwill 86,000 Cash surrender value of life insurance 96,000 Prepaid expenses 18,000 Current liabilities Accounts payable 141,000 Notes payable (due next year) 131,000 Pension obligation 88,000 Rent payable 55,000 Premium on bonds payable 59,000 Long-term liabilities Bonds payable 506,000 Stockholders' equity Common stock, $1.00 par, authorized 400,000 shares, issued 296,000 296,000 Additional paid-in capital 166,000 Retained earnings