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		$ 72,170		Notes and accounts payable		$ 48,240
Accounts receivable (net)		44,740		Long-term liabilities		78,170
Inventory		63,170		Stockholders equity		158,670
Equipment (net)		84,000				$285,080
Patents		21,000
		$285,080

The following additional information is provided.

1.		Cash includes $1,200 in a petty cash fund and $15,100 in a bond sinking fund.
2.		The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $48,240 and (b) allowance for doubtful accounts $3,500.
3.		Inventory costing $5,700 was shipped out on consignment on July 31, 2014. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,700 were recognized on these consigned goods.
4.		Equipment had a cost of $116,240 and an accumulated depreciation balance of $32,240.
5.		Income taxes payable of $9,280 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.

Prepare a corrected classified balance sheet as of July 31, 2014, from the available information, adjusting the account balances using the additional information.