The merchandise inventory is stated at cost by the LIFO method.
The product warranty payable is a current liability.
Vacation pay payable:
Current liability	$7,140
Long-term liability	3,360
The unfunded pension liability is a long-term liability.
Notes payable:
Current liability	$70,000
Long-term liability	630,000

Kornett Company Post-Closing Trial Balance December 31, 20Y8
	Debit Balances		Credit Balances
Petty Cash	4,500
Cash	243,960
Notes Receivable	100,000
Accounts Receivable	470,000
Allowance for Doubtful Accounts			16,000
Merchandise Inventory	320,000
Interest Receivable	1,875
Prepaid Insurance	45,640
Office Supplies	13,390
Land	654,925
Buildings	900,000
Accumulated DepreciationBuildings			36,000
Office Equipment	246,000
Accumulated DepreciationOffice Equipment			44,000
Store Equipment	112,000
Accumulated DepreciationStore Equipment			5,000
Mineral Rights	546,000
Accumulated Depletion			30,000
Patents	42,000
Social Security Tax Payable			25,470
Medicare Tax Payable			4,710
Employees Federal Income Tax Payable			40,000
State Unemployment Tax Payable			270
Federal Unemployment Tax Payable			30
Salaries Payable			157,000
Accounts Payable			131,600
Interest Payable			28,000
Product Warranty Payable			76,000
Vacation Pay Payable			10,500
Unfunded Pension Liability			50,700
Notes Payable			700,000
J. Kornett, Capital			2,345,010
	3,700,290		3,700,290

Enter all amounts as positive numbers.

Kornett Company Balance Sheet December 31, 20Y8
Assets
Current assets:
Accounts payableBuildingsMineral rightsOffice equipmentPetty cash		$fill in the blank 2
Accounts payableCashJ. Kornett, capitalSalaries payableStore equipment		fill in the blank 4
Accumulated depreciationInterest payableNotes payableNotes receivableVacation pay payable		fill in the blank 6
Accounts payableAccounts receivableMineral rightsOffice equipmentUnfunded pension liability	$fill in the blank 8
Less accounts payableLess allowance for doubtful accountsLess cashLess landLess product warranty payable	fill in the blank 10	fill in the blank 11
LandMedicare tax payableMerchandise inventory-at cost (LIFO)Office equipmentState unemployment tax payable		fill in the blank 13
BuildingInterest payableInterest receivableStore equipmentVacation pay payable		fill in the blank 15
Accounts payableJ. Kornett, capitalPrepaid insuranceSalaries payableStore equipment		fill in the blank 17
Accounts payableCashJ. Kornett, capitalOffice equipmentOffice supplies		fill in the blank 19
Total current assets			$fill in the blank 20
Property, plant, and equipment:
Accounts receivableCashLandMerchandise inventory-at cost (LIFO)Office supplies		$fill in the blank 22
BuildingsCashNotes receivablePetty cashPrepaid insurance	$fill in the blank 24
Less accounts payableLess accumulated depreciationLess allowance for doubtful accountsLess cashLess depreciation expense	fill in the blank 26	fill in the blank 27
CashInterest receivableOffice equipmentOffice suppliesSocial security tax payable	$fill in the blank 29
Less accounts payableLess accumulated depreciationLess depreciation expenseLess J. Kornett, capitalLess merchandise inventory	fill in the blank 31	fill in the blank 32
Interest payableNotes payableNotes receivableStore equipmentVacation pay payable	$fill in the blank 34
Less accumulated depreciationLess depreciation expenseLess merchandise inventoryLess petty cashLess product warranty payable	fill in the blank 36	fill in the blank 37
Accounts payableCashJ. Kornett, capitalMineral rightsSalaries payable	$fill in the blank 39
Less accumulated depletionLess allowance for doubtful accountsLess buildingsLess prepaid insuranceLess store equipment	fill in the blank 41	fill in the blank 42
Total property, plant, and equipment			fill in the blank 43
Intangible assets:
CashJ. Kornett, capitalLandMerchandise inventoryPatents			fill in the blank 45
Total assets			$fill in the blank 46
Liabilities
Current liabilities:
Accounts receivableCashJ. Kornett, capitalPetty cashSocial security tax payable		$fill in the blank 48
BuildingsInterest receivableMedicare tax payableMerchandise inventoryOffice equipment		fill in the blank 50
Accounts receivableCashEmployees federal income tax payableMineral rightsOffice equipment		fill in the blank 52
Merchandise inventoryOffice equipmentOffice suppliesState unemployment tax payableUnfunded pension liability		fill in the blank 54
Federal unemployment tax payableInterest receivableLandOffice equipmentPetty cash		fill in the blank 56
BuildingsJ. Kornett, capitalPrepaid insuranceSalaries payableStore equipment		fill in the blank 58
Accounts payableAccounts receivableInterest receivableLandPetty cash		fill in the blank 60
Interest payableInterest receivableMerchandise inventoryMineral rightsOffice equipment		fill in the blank 62
Allowance for doubtful accountsBuildingsCashNotes receivableProduct warranty payable		fill in the blank 64
LandMerchandise inventoryOffice equipmentPrepaid insuranceVacation pay payable (current portion)		fill in the blank 66
Interest receivableMineral rightsNotes payable (current portion)Notes receivableOffice supplies		fill in the blank 68
Total current liabilities			$fill in the blank 69
Long-term liabilities:
CashInterest payableOffice equipmentPrepaid insuranceVacation pay payable		$fill in the blank 71
Accounts payableBuildingsLandSalaries payableUnfunded pension liability		fill in the blank 73
Accounts receivableNotes payableOffice suppliesSalesStore equipment		fill in the blank 75
Total long-term liabilities			fill in the blank 76
Total liabilities			$fill in the blank 77
Owner's Equity
Accounts receivableCashInterest payableJ. Kornett, capitalPetty cash			fill in the blank 79
Total liabilities and owner's equity