to Balance Sheet You may use the attached spread sheet to help you complete this activity, but you are not required to do so. You wi corner of the activity. Minett Boatbuilders Company prepared the following balance sheet: Minett Boatbuilders Company Balance Sheet for Year Ended December 31, 2016 Working capital $ 22,800 Noncurrent liabilities $ 62,000 Other assets 152,000 Shareholders' equity 112,800 Total $174,800 Total $174,800 Your analysis of these accounts reveals the following information: 1. Working capital consists of: Land $ 12,000 Accounts due from customers 18,000 Accounts due to suppliers Inventories, including office supplies of $3,500 Income taxes Owed (22,700) 35,500 (16,400) (3,600) (17,000) Wages owed Note owed to bank (due December 31, 2018) Securities held as a short-term investment 17,000 $ 22,800 2. Other assets include: Cash $ 12,300 Prepaid insurance 2,400 Buildings and equipment Discount on bonds payable 100,000 3,000 29,000 Investment in available-for-sale stock Treasury stock (at cost) 5,300 $152,000 3. Noncurrent liabilities consist of: Bonds payable (due 2023) $ 33,000 Allowance for doubtful accounts 1,400 2,600 Additional paid-in capital on preferred stock Common stock, $5 par 25,000 $ 62,000 4. Shareholders' equity includes: Accumulated depreciation: Buildings and equipment $ 40,000 Preferred stock, $100 par 12,000 Preferred stock, $100 par 12,000 Additional paid-in capital on common stock 15,600 Retained earnings 40,000 Accrued pension cost 6,500 Unrealized decrease in value of available-for-sale securities (1,300) $112,800 Required: Based on your analysis, prepare a properly classified December 31, 2016, balance sheet for Minett Boatbuilders Company Balance Sheet December 31, 2016 Assets Current Assets Cash $ 12,300 Investments in marketable securities 17,000 Accounts receivable 18,000 Less: Allowance for doubtful accounts 14,000 X 16,600 Inventories 32,000 Total current assets Long-Term Investments Property, Plant, and Equipment Land 12,000 Buildings and equipment 100,000 40,000 Less: Accumulated depreciation 72,000 X Total property, plant, and equipment 184,800 Total Assets Liabilities Current Liabilities 22,700 16,400 Accounts payable Income taxes payable Wages payable 42,700 x Total current liabilities Long-Term Liabilities Total current liabilities Long-Term Liabilities Bonds payable (due 2023) 33,000 Less: Discount on bonds payable 3,000 $ 30,000 Notes payable (due 2018) 17,000 Total long-term liabilities Total Liabilities Shareholders' Equity Contributed Capital > Total contributed capital Accumulated Other Comprehensive Loss