Jaez Corporation is in the process of going through a reorganization. As of December 31, 2024, the company’s accountant has determined the following information although the company is still several months away from emerging from the bankruptcy proceeding. Prepare a balance sheet in the appropriate form.

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Assets Cash Inventory. Land.... Buildings.. Equipment Liabilities as of the date of the order for relief Accounts payable... Accrued expenses.. Income taxes payable. Note payable (due 2027, secured by land).. Note payable (due 2029)... Liabilities since the date of the order for relief Accounts payable....... Note payable (due 2026) Stockholders' equity Common stock Deficit ... Net Book Value $ 23,000 45,000 140,000 220,000 154,000 Allowed Claims $ 123,000 30,000 22,000 100,000 170,000 $ 60,000 110,000 $ 200,000 (233,000) Fair Value $ 23,000 47,000 210,000 260,000 157,000 Expected Settlement $ 20,000 4,000 18,000 100,000 80,000