The bookkeeper for Indigo Company has prepared the following balance sheet as of July 31, 2020. Cash Accounts receivable (net) Inventory Equipment (net) Patents INDIGO COMPANY BALANCE SHEET AS OF JULY 31, 2020 $ 72,230 Notes and accounts payable 43,730 Long-term liabilities 63,230 Stockholders' equity 84,000 21,000 $284,190 $47,230 78,230 158,730 $284,190 The following additional information is provided. 1. Cash includes $1,200 in a petty cash fund and $12,400 in a bond sinking fund. 2. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $47,230 and (b) allowance for doubtful accounts $3,500. 3. Inventory costing $4,790 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables in the amount of $4,790 were recognized on these consigned goods. 4. Equipment had a cost of $115,230 and an accumulated depreciation balance of $31,230. 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 liauidity) 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