Show all computations to receive credit. Staple or paperclip any additional sheets of paper. Must be completed on an individual basis. PartI Hendrix Company has hired an intern (who did not take accounting at Hendrix College) and tasked the interm with preparing the monthly classified balance sheet. Below is the balance sheet prepared by the intern. Hendrix Company Balance Sheet For the Month Ended August 30, 2019 Current Assets: Cash Accounts Receivable Current Liabilities: $ 26,000 $ 22,000 Accounts payable Income tax payable Premium on bonds payable Total Current Liabilities 25,000 15,000 2,000 39,000 Marketable securities 18,000 24,000 20,000 113,000 Inventory Investment in ABC Company Long-Term Liabilities: Bonds payable (due 2025) TOTAL LIABILITIES Total Current Assets 60,000 99,000 Investments 25,000 Treasury stock Common Stock Common stock, $10 par Retained earnings Cash dividends declared Plant, Property, and Equipment: Buildings and land Less: Accumulated Depreciation 85,000 25,000 8,000 91.000 31,000 60,000 118,000 TOTAL COMMON STOCK Other Assets: Cash surrender value of insurance 19.000 $ 217.000 TOTAL LIABILITES & SE S 217,000 TOTAL ASSETS Instructions Identify all of the mistakes in the above balance sheet. In addition, identify the correction that would need to be made to display a proper classified balance sheet. Prepare a numbered listing of the errors identified. (NOTE: You do not need to prepare a new balance sheet. You must simply find the errors and note the correction for the errors in the above balance sheet.) (Continued on Back)