the following is the balance sheet os McDonlad Company

oAPTOR P 3-6 The following is the balance sheet of McDonald Company M.DONALD COMPANY December 31, 2012 Current assets Assets Cash (including $10,000 restricted for payment of none) Marketable equity securities Accounts receivable, less allowance for doubtfal accounts of $12,000 Inventory S 40,000 20,000 70,000 60,000 Total current assets Plant assets: $190,000 Land $ 40,000 100,000 Buildings, net Equipment Less: Accumulated depreciation Patent Organizational costs $80,000 20,000 60,000 20,000 15,000 235000 Other assets: Prepaid insurance Total assets 5,000 S430 000 Liabilities and Stockholders' Equity Current liabilities: S 60,000 10,000 20,000 100,000 Accounts payable Wages payable Notes payable, due July 1, 2014 Bonds payable, due December 2018 Total current liabilities Dividends payable Deferred tax liability, long term Stockholders' equity Common stock ($10 par, 10,000 shares authorized, 5,000 shares outstanding) Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $190,000 4,000 30,000 $ 50,000 156,000 206,000 $430,000 Required Indicate your criticisms of the balance sheet and briefly explain the proper treat- ment of any item criticized. ha course C