Your firm has been engaged to examine the financial statements of Indigo Corporation for the year 2020. The bookkeeper who maintains the financial records has prepared all the unaudited financial statements for the corporation since its organization on January 2, 2015. The client provides you with the information. Indigo Corporation Balance Sheet December 31, 2020 Assets Liabilities Current assets $1,888,000 Current liabilities $963,000 Other assets 5,175,250 Long-term liabilities 1,439,000 Stockholders' equity 4,661,250 $7,063,250 $7,063,250 An analysis of current assets discloses the following. Cash (restricted in the amount of $306,000 for plant expansion) $581,000 Investments in land 183,000 Accounts receivable less allowance of $30,000 472,000 Inventories (LIFO flow assumption) 652,000 $1,888,000