The following errors in the corporation's accounting have been discovered: 1. January 2026 cash disbursements entered as of December 2025 included payments of accounts payable in the amount of $39,300, on which a cash discount of 2% was taken. 2. The inventory included $29,980 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $10,920 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10,n/30. 3. Sales for the first four days in January 2026 in the amount of $28,340 were entered in the sales journal as of December 31 . 2025. Of these, $20,610 were sales on account and the remainder were cash sales. 4. Cash, not including cash sales, collected in January 2026 and entered as of December 31,2025 , totaled $36,304, Of this amount, $24,304 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan. Restate the current assets and current liabilities sections of the balance sheet in accordance with good accounting practice. (Assume that both accounts receivable and accounts payable are recorded gross.) (List Current Assets in order of iliquidity) Liabilities and Stockholders' Equity 5 5