The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. LOS GATOS CORPORATION Balance Sheet At December 31, 2021 Cash Accounts receivable Inventory Machinery (net) Assets $ 80,000 140,000 75,000 140,000 Franchise (net) 50,000 Total assets $ 485,000 Liabilities and Shareholders' Equity Accounts payable $ 90,000 Allowance for uncollectible accounts 25,000 Notes payable 95,000 Bonds payable 130,000 Shareholders' equity 145,000 Total liabilities and shareholders' equity $ 485,000 Additional Information: 1. Cash includes a $40,000 restricted amount to be used for repayment of the bonds payable in 2025. 2. The cost of the machinery is $230,000. 3. Accounts receivable includes a $40,000 notes receivable from a customer due in 2024. 4. The notes payable balance includes accrued interest of $25,000. Principal and interest are both due on February 1, 2022. 5. The company began operations in 2016. Net income less dividends since inception of the company totals $55,000. 6. 70,000 shares of no par common stock were issued in 2016. 200,000 shares are authorized. Required: Prepare a corrected, classified balance sheet. Use the additional information to help determine appropriate classifications and account