2. Balance sheet preparation Use the appropriate items from the following list to prepare in good form Owen Davis Company's balance sheet at December 31, 2006. Item and the Value ($000) at Dec. 31, 2006 Accounts payable $ 220 Inventories $ 375 Accounts receivable 450 Land 100 Accruals 55 Long-term debts 420 Accumulated depreciation 265 Machinery 420 Buildings 225 Marketable securities 75 Cash 215 Notes payable 475 Common stock (at par) 90 Paid-in capital in excess Cost of goods sold 2,500 of par 360 Depreciation expense 45 Preferred stock 100 Equipment 140 Retained earnings 210 Furniture and fixtures 170 Sales revenue 3,600 General expense 320 Vehicles 25