The following is the alphabetical adjusted trial balance of Meadows Company on December 31, 2019: Debits Credits Accounts Payable $ 9,800 Accounts Receivable $ 19,000 Accrued Payables 6,600 Accumulated Depreciation 44,000 Accumulated Other Comprehensive Loss 1,000 Additional Paid-in Capital 50,600 Cash 7,900 Common Stock, $5 par 29,600 Cost of Goods Sold 184,500 Current Portion of Long-Term Debt 6,200 Deferred Taxes Payable 12,500 Dividends Distributed 7,000 General Expenses 27,560 Income Tax Expense 12,340 Income Taxes Payable 7,500 Interest Expense 4,300 Inventories 32,000 Investment in Held-to-Maturity Bonds 36,000 Long-Term Debt 57,600 Long-Term Receivables 38,600 Marketable Securities (short-term) 11,200 Patents (net) 13,000 Prepaid Insurance 5,000 Property, Plant, and Equipment 148,000 Retained Earnings, 1/1/19 74,500 Sales 270,000 Selling Expenses 21,500 $568,900 $568,900 Required: 1. Prepare Meadows's December 31, 2019, balance sheet.

Help me get the Retained Earnings, 85,300 is incorrect

Balance Sheet from Adjusted Trial Balance The following is the alphabetical adjusted trial balance of Meadows Company on December 31, 2019: Debits Credits Accounts Payable $ 9,800 Accounts Receivable $ 19,000 Accrued Payables Accumulated Depreciation Accumulated Other Comprehensive Loss Additional Paid-in Capital 6,600 44,000 1,000 50,600 Cash 7,900 Common Stock, $5 par 29,600 Cost of Goods Sold 184,500 6,200 12,500 7,000 Current Portion of Long-Term Debt Deferred Taxes Payable Dividends Distributed General Expenses Income Tax Expense Income Taxes Payable Interest Expense 27,560 12,340 7,500 Inventories 4,300 32,000 36,000 Investment in Held-to-Maturity Bonds Long-Term Debt Long-Term Receivables 57,600 38,600 Check My Work General Expenses 27,560 12,340 Income Tax Expense Income Taxes Payable Interest Expense 7,500 4,300 Inventories 32,000 36,000 57,600 38,600 Investment in Held-to-Maturity Bonds Long-Term Debt Long-Term Receivables Marketable Securities (short-term) Patents (net) Prepaid Insurance Property, Plant, and Equipment Retained Earnings, 1/1/19 Sales 11,200 13,000 5,000 148,000 74,500 270,000 Selling Expenses 21,500 $568,900 $568,900 Required: 1. Prepare Meadows's December 31, 2019, balance sheet. Meadows Company Balance Sheet December 31, 2019 Assets Current Assets: Cash $ 7,900 Marketable securities (short-term) 11,200 Accounts receivable 19,000 Inventories 32,000 Prepaid insurance 5,000 Total current assets 75,100 Long-Term Investments: Investment in held-to-maturity bonds $ 36,000 Long-term receivables 38,600 74,600 Property, Plant, and Equipment: Property, plant, and equipment $ 148,000 Less: Accumulated depreciation 44,000 V 104,000 Intangible Assets: Patents (net) 13,000 Total Assets $ 266,700 Liabilities Current Liabilities: Accounts payable $ 9,800 Accrued payables 6,600 Income taxes payable 7,500 Liabilities Current Liabilities: Accounts payable $ 9,800 Accrued payables 6,600 Income taxes payable 7,500 Current portion of long-term debt 6,200 Total current liabilities $ 30,100 Long-Term Liabilities: Long-term debt 57,600 Other Liabilities: Deferred taxes payable 12,500 Total Liabilities 100,200 Shareholders' Equity Contributed Capital: Common stock, $5 par $ 29,600 Additional paid-in capital 50,600 Total contributed capital Retained earnings $ 80,200 85,300 X Accumulated other comprehensive loss 1,000 Total shareholders' equity $ 166,500 Total liabilities and shareholders' equity $ 266,700 Chark M