The balance sheet of Flounder Corporation as of December $31,2025,$ is as follows.

Note $1$: Buildings are stated at cost$,$ except for one building that was recorded at appraised value. The excess of appraisal value over

cost was $$572,480.$ Depreciation has been recorded based on cost$.$

Note $2$: Goodwill in the amount of $$122,480$ was recognized because the company believed that book value was not an accurate

representation of the fair value of the company. The gain of $$122,480$ was credited to Retained Earnings.

Note $3$: Notes payable are long$-$term except for the current installment due of $$100,000.$

Prepare a corrected classified balance sheet in good form. The notes above are for information only. $($List Current Assets in order of

liquidity. List Property, Plant, and Equipment in order of Land, and Buildings. Enter account name only and do not provide the descriptive

information provided in the question.$)$

FLOUNDER CORPORATION

Balance Sheet

Assets