The bookkeeper for Indigo Company has prepared the following balance sheet as of July 31, 2020. INDIGO COMPANY BALANCE SHEET AS OF JULY 31, 2020 Cash $ 73,890 Notes and accounts payable $ 48,890 Accounts receivable (net) 45,390 Long-term liabilities 79,890 Inventory 64,890 Stockholders' equity 160,390 Equipment (net) 84,000 $289,170 Patents 21,000 $289,170 The following additional information is provided. 1. Cash includes $1,200 in a petty cash fund and $13,100 in a bond sinking fund. 2. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $48,890 and (b) allowance for doubtful accounts $3,500. 3. Inventory costing $5,153 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,153 were recognized on these consigned goods. 4. Equipment had a cost of $116,890 and an accumulated depreciation balance of $32,890. 5. Income taxes payable of $6,000 were accrued on July 31. Indigo 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, 2020, from the available information, adjusting the account balances using the additional information. (List Current Assets in order of liquidity) INDIGO COMPANY Balance Sheet July 31, 2020 Assets Current Assets Cash Accounts Receivable Less : Allowance for Doubtful Accounts $ $ $ Liabilities and Stockholders' Equity $ $ $ $