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The following balance sheet, which has some weaknesses in terminology and classification, has been prepared by an inexperienced accountant and submitted to you for review: Mikeska Company Balance Sheet as of December 31, 2617 ($ in thousands) Assets Fixed assetstangible Land $ 566 Buildings and equipment 266 Less: Reserve for depreciation (56) $ 656 Factory supplies 26 Current assets Inventory 163 Accounts receivable 162 Cash 68 333 Fixed assetsintangibles Patents 51 Goodwill 49 166 Deferred charges Discount on bonds payable 12 Returnable containers 32 44 Total assets $1,147 Liabilities Current liabilities Accounts payable 146 Allowance for doubtful accounts 7 Wages payable 195 $ 342 Long-term liabilities Bonds payable 466 Reserve For contingencies 56 456 Equity Capital stock, $16 par, 5,666 shares issued and outstanding 56 Capital surplus 75 Earned surplus 276 Dividends paid (46) 355 Total liabilities $1,147 ' Required: Prepare a classified balance sheet in proper form. Make any necessary corrections. Mikeska Company Balance Sheet As of 12/31/2017 (in thousands) Assets: Current assets: Cash Accounts receivable Inventory Factory supplies $ 0 Property, plant, and equipment: Land Buildings and equipment Less: Accumulated depreciation $ 0 Intangible assets: Patents Goodwill 0 Other assets: Returnable containers Total assets $ 0Liabilities: Current liabilities: Wages payable Accounts payable $ 0 Long-term liabilities: Bonds payable Discount on bonds payable Liability for contingencies Total liabilities 0 Equity: Capital stock Additional paid-in capital Retained earnings Total contributed capital 0 Total stockholders' equity Total liabilities and stockholders' equity 0