The following baiance sheet for the Los Gatos Corporation was prepared by a recently hired accountant, In reviewing the statement you notice several errors. Additional information: 1. Cosh includes in $20,000 restricted amount to be used for ropayment of the bonds payabie in 2028 . 2. The cost of the machinery is $190,000. 3. Accounts recelvable includes a $20,000 notes receivable from a customer due in 2027. 4. The notes poyable balance includes accrued interest of $5,000. Principal and interest are both due on February 1, 2025. 5. The company began operations in 2019 . Net income less dividends since inception of the company totals $35,000. 6. 50,000 shares of no par common stock were issued in 2019.100,000 shares are authorized. Required: Prepare a corrected, classified balance sheet. Use the additional information to help determine appropriate classifications and account balances. The cost of machinery and its accumulated depreclation are shown separately. Note: Amounts to be deducted should be indicated by a minus sign. LOS GATOS CORPORATION Balance Sheet At December 31, 2024 Assets \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|l|}{ Current assets: } \\ \hline Cash & & & $ & 20,000 \\ \hline Accounts receivable & $ & 60,000 & & \\ \hline Allowance for uncollectible accounts & & (5,000) & & \\ \hline Net accounts receivable & & & & 55,000 \\ \hline & & & & \\ \hline Total current assets & & & & 75,000 \\ \hline \multicolumn{5}{|l|}{ Investments: } \\ \hline Notes receivable & & & & 20,000 \\ \hline \multicolumn{5}{|l|}{ Property, plant, and equipment: } \\ \hline & & & & \\ \hline & & & & \\ \hline Net property, plant, and equipment & & & & 0 \\ \hline \multicolumn{5}{|l|}{ Intangible assets: } \\ \hline & & & & \\ \hline \multicolumn{5}{|l|}{ Other assets: } \\ \hline & & & & \\ \hline & & & & \\ \hline Total assets & & & $ & 95,000 \\ \hline \end{tabular} Liabilities and Shareholders' Equity \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Other assets: } \\ \hline \multicolumn{3}{|l|}{ C } \\ \hline \multicolumn{3}{|l|}{7} \\ \hline Total assets & $ & 95,000 \\ \hline \multicolumn{3}{|c|}{ Liabilities and Shareholders' Equity } \\ \hline \multicolumn{3}{|l|}{ Current liabilities: } \\ \hline \multicolumn{3}{|l|}{7} \\ \hline \multicolumn{3}{|l|}{5} \\ \hline \multicolumn{3}{|l|}{4.} \\ \hline Total current liabilities & & 0 \\ \hline \multicolumn{3}{|l|}{ Long-term liabilities: } \\ \hline \multicolumn{3}{|l|}{ E } \\ \hline \multicolumn{3}{|l|}{p} \\ \hline Total liabilities & & 0 \\ \hline \multicolumn{3}{|l|}{ Shareholders' equity: } \\ \hline \multicolumn{3}{|l|}{ P } \\ \hline \\ \hline \\ \hline Total shareholders' equity & & 0 \\ \hline Total liabilities and shareholders' equity & $ & 0 \\ \hline \end{tabular}