The following is the balance sheet of Rubber Industries RUBBER INDUSTRIES Balance Sheet For the Year Ended December 31, 2012 Assets Current assets: Cash Marketable equity securities Accounts receivable, net Inventory Treasury stock $ 50,000 19,000 60,000 30,000 20,000 $179,000 Total current assets Land and buildings, net Short-term U.S. notes Plant assets 160,000 20,000 4,000 Investments Other assets: Supplies Total assets Liabilities and Stockholders' Equity Liabilities Bonds payable Accounts payable Wages payable $123,000 40,000 10,000 Total liabilities Stockholders' equity: Common stock ($20 par, 20,000 shares authorized, 6,000 shares outstanding) Retained earnings Redeemable preferred stock 120,000 50,000 20,000 $363,000 tal liabilities and stockholders' equity Required Indicate your criticisms of the balance sheet and briefly explain the proper treatment of any item criticized