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, 2018 AssetS Cash Accounts receivable Inventories Machinery (net) Franchise (net) $ 54,000 101,000 62,000 127,000 37,000 $381,000 Total assets Liabilities and Shareholders' Equity Accounts payable Allowance for uncollectible accounts Note payable Bonds payable Shareholders' equity $ 64,000 12,000 69,000 117,000 119,000 $381,000 Total liabilities and shareholders' equity Additional information: 1. Cash includes a $27,000 restricted amount to be used for repayment of the bonds payable in 2022 2. The cost of the machinery is $204,000 3. Accounts receivable includes a $27,000 note receivable from a customer due in 2021 4. The note payable includes accrued interest of $12,000. Principal and interest are both due on February 1, 2019 5. The company began operations in 2013. Income less dividends since inception of the company totals $42,000 6. 57,000 shares of no par common stock were issued in 2013. 100,000 shares are authorized Required Prepare a corrected, classified balance sheet. (Amounts to be deducted should be indicated by a minus sign.)