1. The following is a list of assets and claims of a pharmaceutical research company at a particular point in time:
   • Short-term borrowings: $20,000
   • Property: $255,000
   • Inventories of raw materials: $21,000
   • Trade payables: $24,500
   • Plant and equipment: $118,000
   • Loan from Pharma Research Finance Co. (long-term borrowing): $99,000
   • Inventories of finished goods: $29,000
   • Delivery vans: $50,500
   • Trade receivables: $40,000

Required:

Prepare a detailed balance sheet incorporating these figures. (Hint: There is a missing item that needs to be deduced and inserted.)