Pina Company has decided to expand its operations. The bookkeeper recently completed the following balance sheet in

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Pina Company has decided to expand its operations. The bookkeeper recently completed the following balance sheet in order to obtain additional funds for expansion.

PINA COMPANY BALANCE SHEET FOR THE YEAR ENDED 2020

Current assets Cash$241,500

Accounts receivable (net)351,500

Inventory (lower-of-average-cost-or-market)412,500

Equity investments (marketable)-at cost (fair value $131,500)151,500

Property, plant, and equipment Buildings (net)581,500

Equipment (net)171,500

Land held for future use186,500

Intangible assets

Goodwill91,500

Cash surrender value of life insurance101,500

Prepaid expenses23,500

Current liabilities

Accounts payable146,500

Notes payable (due next year)136,500

Pension obligation93,500

Rent payable60,500

Premium on bonds payable64,500

Long-term liabilities

Bonds payable511,500

Stockholders’ equity

Common stock, $1.00 par, authorized 400,000 shares, issued 301,500301,500 Additional paid-in capital171,500 Retained earnings?

Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $171,500 and for the equipment, $116,500. The allowance for doubtful accounts has a balance of $28,500. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.