The bookkeeper for Geronimo Company has repared the following balance sheet as of July 31, 2014.

Balance Sheet as of JULY 31, 2014

Cash $69000	Notes and accounts payable $44000
Accounts receivable (net) 40500	Long-term liabilities 75000
Inventory 60000	Stockholders' equity 155500
Equipment (net) 84000
Patents 21000
total: 274500	total: 274500

The following additional information is provided.

1. cash includes $1200 in a petty cash fund and $15000 in a bond sinking fund.

2. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $44000 and (b) allowance for doubtful accounts $3500

3. Inventory costing $5300 was shipped out on consignment on July 31, 2014. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5300 were recognized on these consigned goods.

4. Equipment had a cost of $112000 and an accumulated depreciation balance of $28000

5. Income taxes payable of $6000 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 offest 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.