CALCULATOR PRINTER VERSION BACK NE Problem 5-2 Presented below are a number of balance sheet items for Sweet, Inc., for the current year, 2017 Goodwill $ 127,970 Accumulated Depreciation Equipment $ 292,260 Payroll Taxes Payable 180,561 Inventory 242,770 Bonds payable 302,970 Rent payable (short-term) 47,970 Discount on bonds payable 15,260 Income taxes payable 101,332 Cash 362,970 Rent payable (long-term) 482,970 Land 482,970 Common stock, $1 par value 202,970 Notes receivable 448,670 Preferred stock, $10 par value 152,970 Notes payable (to banks) 267,970 Prepaid expenses 90,890 Accounts payable 492,970 Equipment 1,472,970 Retained earnings 7 Debt investments (trading) 123,970 Income taxes receivable 100,600 Accumulated Depreciation Buildings 270,460 Notes payable (long-term) 1,602,970 Buildings 1,642,970 Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized was 20,000 shares. Assume that notes recevable and notes payable are short-term, unless stated otherwise. Cost and fair value of debt investments (trading) are the same. (Ust Current Assets in the order of quity Property Plant and Equipment in order of Land, Building and Equipment.) SWEET, INC. Balance Sheet Assets