Presented below are selected accounts of Yasunari Kawabata Company at December 31, 2014.

The following additional information is available.
  1. Inventories are valued at lower-of-cost-or-market using LIFO.
  2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $50,600.
  3. The short-term investments have a fair value of $29,000. (Assume they are trading securities.)
  4. The notes receivable are due April 30, 2016, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrued interest due on December 31, 2014.)
  5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $50,000 are pledged as collateral on a bank loan.
  6. Licenses are recorded net of accumulated amortization of $14,000.
  7. Treasury stock is recorded at cost.

Instructions
Prepare the current assets section of Yasunari Kawabata Company’s December 31, 2014, balance sheet, with appropriate disclosures.