The following balance sheet was prepared by the bookkeeper for Kraus Company: Kraus Company Balance Sheet Year ended December 31, 2013 Cash $ 80,000 Accounts payable $ 75,000 Accounts receivable (net) 52,200 Long-term liabilities 100,000 Inventories 57,000 Stockholders' equity 218,500 Investments 76,300 Equipment (net) 96,000 Patents 32,000 $393,500 $393,500 The following additional information is provided: 1. Cash includes a bond sinking fund of $20,000.. 2. The net accounts receivable balance includes: (a) accounts receivabledebit balances $60,000; (b) accounts receivablecredit balances $4,000; (c) allowance for doubtful accounts $3,800. 3. Inventories do not include goods costing $3,000 shipped out on consignment. Receivables of $3,000 were recorded on these goods