The following balance sheet, prepared by a careless bookkeeper, has been given to you to review. Required: List any corrections that need to be made. Errors can be in classification, lack of disclosure, format, or terminology Eldorado, Inc. Balance Sheet For the Year Ended June 30, 2012 Assets Current Assets: Accounts Receivable Merchandise Inventory Cash $ 37,000 62,000 17,000 $116,000 Investments: Marketable Securities Treasury Stock $ 18,000 4,000 22,000 Tangible Assets: Buildings Less: Reserve for Depreciation $194,000 (34.000) 160,000 Other Assets: Unamortized Portion of Bond Payable Discount _3,000 5301.000 Liabilities and Stockholders' Equity Current Liabilities: Accounts Payable Bank Note Payable (due 5/1/2011) $ 26,000 22.000 $ 48,000 Long-Term Liabilities: Bonds Payable 112,000 Capital Stock: Common Stock Earned Surplus $ 49,000 92.000 141.000 $301.000