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 $ 42,000 Accounts receivable 83,000 Inventories 56,000 Machinery (net) 121,000 Franchise (net) 31,000 Total assets $ 333,000 Liabilities and Shareholders Equity Accounts payable $ 52,000 Allowance for uncollectible accounts 6,000 Note payable 57,000 Bonds payable 111,000 Shareholders equity 107,000 Total liabilities and shareholders equity $ 333,000 Additional information: Cash includes a $21,000 restricted amount to be used for repayment of the bonds payable in 2022. The cost of the machinery is $192,000. Accounts receivable includes a $21,000 note receivable from a customer due in 2021. The note payable includes accrued interest of $6,000. Principal and interest are both due on February 1, 2019. The company began operations in 2013. Income less dividends since inception of the company totals $36,000. 51,000 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.)

133,000 Total current assets Investments Note receivable 21,000 points 21,000 Total investments Property, plant, and equipment Machinery Accumulated depreciation Net property, plant, and equipment Intangible assets Franchise 192,000 (71,000) 121,000 31,000 Total assets $ 306,000 $ Current liabilities Accounts payable Interest payable Note payable 52,000 6,000 51,000 109,000 Total current liabilities Long-term liabilities Bonds payable 111,000 220,000 Total liabilities Shareholders' equity Common stock Retained earnings S0 X 107,000 Total shareholders' equity Total liabilities and shareholders' equity 107,000 327,000 $