Exercise 3-7 (Algo) Balance sheet preparation; errors [LO3-2, 3-3] The following balance sheet for the Los Gatos Corporation was prepared by a recently hired accountant. In reviewing the statement you notice several errors. Additional Information: 1. Cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2028. 2. The cost of the machinery is $194,000. 3. Accounts receivable includes a $22,000 notes receivable from a customer due in 2027. 4. The notes payable balance includes accrued interest of $7,000. Principal and interest are both due on February 1,2025. 5. The company beqan operations in 2019 . Net income less dividends since inception of the company totals $37,000. Prepare a corrected, classified balance sheet. Use the additional information to help determine appropriate classifications and account balances. The cost of machinery and its accumulated depreciation are shown separately. Note: Amounts to be deducted should be indicated by a minus sign