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, 2024 Assets Cash $ 40,000 Accounts receivable 80,000 Inventory 55,000 Machinery (net) 120,000 Franchise (net) 30,000 Total assets $ 325,000 Liabilities and Shareholders Equity Accounts payable $ 50,000 Allowance for uncollectible accounts 5,000 Notes payable 55,000 Bonds payable 110,000 Shareholders equity 105,000 Total liabilities and shareholders equity $ 325,000 Additional Information: Cash includes a $20,000 restricted amount to be used for repayment of the bonds payable in 2028. The cost of the machinery is $190,000. Accounts receivable incl