The bookkeeper for Teal Company has prepared the following balance sheet as of July 31, 2020.

TEAL COMPANY BALANCE SHEET AS OF JULY 31, 2020
Cash		$ 73,970		Notes and accounts payable		$ 48,970
Accounts receivable (net)		45,470		Long-term liabilities		79,970
Inventory		64,970		Stockholders equity		160,470
Equipment (net)		84,000				$ 289,410
Patents		21,000
		$ 289,410

The following additional information is provided.

1.		Cash includes $ 1,200 in a petty cash fund and $ 10,960 in a bond sinking fund.
2.		The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $ 48,970 and (b) allowance for doubtful accounts $ 3,500.
3.		Inventory costing $ 5,357 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables in the amount of $ 5,357 were recognized on these consigned goods.
4.		Equipment had a cost of $ 116,970 and an accumulated depreciation balance of $ 32,970.
5.		Income taxes payable of $ 6,000 were accrued on July 31. Teal 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)