Using the information provided by Larkin Corporation in P6- 1, restructure the balance sheet for December 31 of the current year using the report format with the following change in assumptions:

1. The investments at fair value are held in a noncurrent asset fund created for the purpose of liquidating long- term debt.
2. The firm will use the earnings on fund investments to pay the current portion of long- term debt each year.

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Debit Credit S891,500 10,000 Equipment under capital lease Intangible assets -net 200,900 725,000 Notes payable, due in 10 years Accumulated other comprehensive loss Current porton of long-term debt Property, plant, and equipment-net Investments in affikate companies (noncurrenti 345,000 123,543 Bonds payable, due in 20 years Investments at fair value icurrent Obligations under capital leases Obligations under pension plans Deferred tax liability Inoncurrent Common stock, $1 par value