The following partial trial balance of the NPS Corporation at December 31, 2019, has been prepared. Additional notes have been provided to consider.

NPS Corporation

Partial Trial Balance

December 31, 2019

Cash $215,000

Investment in Shares (FV-OCI) 245,000

Accounts Receivable (net) 750,000

Inventory 1,150,000

Equipment (net) 1,545,000

Building (net) 4,589,000

Goodwill 295,000

Current Liabilities 1,900,000

Notes Payable, due in 2022 610,000

Common Shares, 800,000 shares outstanding at Dec 31 3,000,000

Preferred Shares, $5, cumulative, 16,000 shares outstanding 1,000,000

Retained Earnings, December 31, 2019 ?

Other information:

1. The Cash balance includes a $28,000 bank overdraft from another bank and a 6 month investment of $35,000.

2. The Net Accounts Receivable includes a balance for Allowance for Doubtful Accounts of $55,000. Also, it includes a credit balance in a customers account equal to $10,000.

3. Equipment has an Accumulated Depreciation balance of $285,000 and Building has an Accumulated Depreciation balance of $895,000 at December 31, 2019.

4. Investments in shares (FV through OCI) has a fair value of $262,000 at December 31, 2019. This investment is currently recorded at cost.

5. Current Liabilities includes Accounts Payable of $1,050,000; Notes payable due June 1, 2020 of $500,000 and Dividends Payable of $350,000.

Required: Prepare a Classified Balance Sheet for NPS Corporation at December 31, 2019. Show your calculations and provide explanations where necessary.