The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31, 2014. GERONIMO COMPANY BALANCE SHEET AS OF JULY 31, 2014 Cash $ 69,000 Notes and accounts payable $ 44,000 Accounts receivable (net) 40,500 Long-term liabilities 75,000 Inventory 60,000 Stockholders equity 155,500 Equipment (net) 84,000 $274,500 Patents 21,000 $274,500 The following additional information is provided. 1. Cash includes $1,200 in a petty cash fund and $15,000 in a bond sinking fund. 2. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $44,000 and (b) allowance for doubtful accounts $3,500. 3. Inventory costing $5,300 was shipped out on consignment on July 31, 2014. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,300 were recognized on these consigned goods. 4. Equipment had a cost of $112,000 and an accumulated depreciation balance of $28,000. 5. Income taxes payable of $6,000 were accrued on July 31. Geronimo 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. 6. Long-term liabilities are bonds payable issued at par, due in 2019 7. Shareholders' equity is made up of two account balances: Common shares of $10500 and Retained Earnings of $50,500 Prepare a corrected classified balance sheet as of July 31, 2014, from the available information, adjusting the account balances using the additional information. (List Current Assets in order of liquidity)