The adjusted trial balance of Oriole Company and other related information for the year 2020 are presented as follows ORIOLE COMPANY ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $ 43,550 Accounts Receivable 166,050 Allowance for Doubtful Accounts $ 9,160 Prepaid Insurance 6,360 Inventory 211,050 Equity Investments (long term) 341,550 Land 87,550 Construction in Progress (building) 126,550 Patents 36,000 Equipment 402,550 Accumulated Depreciation Equipment 240,460 Discount on Bonds Payable 20,000 Accounts Payable 150,550 Accrued Liabilities 51,750 Notes Payable 96,550 Bonds Payable 202,550 Common Stock 502,550 Paid in Capital in Excess of Par Common Stock 45,000 Retained Earnings 142,640 $1,441,210 $1,441,210 Additional information 1 The LIFO method of inventory value is used 2 The cost and fair value of the long term investments that consist of stocks (with ownership less than 20 of total shares) are the same 3 The amount of the Construction in Progress account represents the costs expended to date on a building in the process of construction (The company rents factory space at the present time ) The land on which the building is being constructed cost $87,550, as shown in the trial balance 4 The patents were purchased by the company at a cost of $40,000 and are being amortized on a straight line basis 5 Of the discount on bonds payable, $2,000 will be amortized in 2021 6 The notes payable represent bank loans that are secured by long term investments carried at $122,550 These bank loans are due in 2021 7 The bonds payable bear interest at 8 payable every December 31, and are due January 1, 2031 8 600,000 shares of common stock of a par value of $1 were authorized, of which 502,550 shares were issued and outstanding Prepare a balance sheet as of December 31, 2020, so that all important information is fully disclosed (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 )

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The adjusted trial balance of Oriole Company and other related information for the year 2020 are presented as follows. ORIOLE COMPANY ADJUSTED TRIAL BALANCE DECEMBER

The adjusted trial balance of Oriole Company and other related information for the year 2020 are presented as follows.

ORIOLE COMPANY ADJUSTED TRIAL BALANCE DECEMBER 31, 2020
	Debit	Credit
Cash	$ 43,550
Accounts Receivable	166,050
Allowance for Doubtful Accounts		$ 9,160
Prepaid Insurance	6,360
Inventory	211,050
Equity Investments (long-term)	341,550
Land	87,550
Construction in Progress (building)	126,550
Patents	36,000
Equipment	402,550
Accumulated Depreciation-Equipment		240,460
Discount on Bonds Payable	20,000
Accounts Payable		150,550
Accrued Liabilities		51,750
Notes Payable		96,550
Bonds Payable		202,550
Common Stock		502,550
Paid-in Capital in Excess of Par-Common Stock		45,000
Retained Earnings		142,640
	$1,441,210	$1,441,210

Additional information:

1.		The LIFO method of inventory value is used.
2.		The cost and fair value of the long-term investments that consist of stocks (with ownership less than 20% of total shares) are the same.
3.		The amount of the Construction in Progress account represents the costs expended to date on a building in the process of construction. (The company rents factory space at the present time.) The land on which the building is being constructed cost $87,550, as shown in the trial balance.
4.		The patents were purchased by the company at a cost of $40,000 and are being amortized on a straight-line basis.
5.		Of the discount on bonds payable, $2,000 will be amortized in 2021.
6.		The notes payable represent bank loans that are secured by long-term investments carried at $122,550. These bank loans are due in 2021.
7.		The bonds payable bear interest at 8% payable every December 31, and are due January 1, 2031.
8.		600,000 shares of common stock of a par value of $1 were authorized, of which 502,550 shares were issued and outstanding.

Prepare a balance sheet as of December 31, 2020, so that all important information is fully disclosed. (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.)