please answer this question ASAP and explain each step in detail

Bayou Corporation produced the following draft statement of financial position at December 31,2020 . 3. Property, Plant, and Equipment include buildings $1,112,800, less accumul depreciation $385,200; equipment $481,500, less accumulated depri $192,600; land $535,000; and land held for future use $288,900 4. Intangible Assets include goodwill valued at $283,550. Bayou Corporation 7. Shareholders' equity has 70,000 preferred shares (200,000 authorized), which were issued for $481,500, and 107,000 common shares (unlimited number authorized), which were issued at an average price of $10 per share. In addition, authorized), which were issued at an average price of $10 per share. In addit 8. Find the value of retained earnings to balance the statement of financial position. The following additional information is available: Required: Prepare a classified statement of financial position in good form. Adjust the amounts in each SFP classification based on the additional information. 1. The current assets section includes the following: cash $160,500; accounts receivable $181,900, less $10,700 allowance for doubtful accounts; inventory $192,600; and warranty payable $5,350. The cash balance is composed of $192,600; and warranty payable $5,350. The cash balance is composed of Show all contra account balances where possible as well as net carrying value. Use proper disclosure techniques as appropriate. Inventory is stated at the lower of FIFO cost and net realizable value. Show all calculations. Be sure to list current assets in order of liquidity. 2. The investments section includes the following: note receivable from a related company, due in 2026, $42,800; FV-NI investments in shares $85,600 (fair value $85,600 ); FV-OCl investments in shares $133,750 (fair value $165,850 ); bond Bayou Corporation produced the following draft statement of financial position at December 31,2020 . 3. Property, Plant, and Equipment include buildings $1,112,800, less accumul depreciation $385,200; equipment $481,500, less accumulated depri $192,600; land $535,000; and land held for future use $288,900 4. Intangible Assets include goodwill valued at $283,550. Bayou Corporation 7. Shareholders' equity has 70,000 preferred shares (200,000 authorized), which were issued for $481,500, and 107,000 common shares (unlimited number authorized), which were issued at an average price of $10 per share. In addition, authorized), which were issued at an average price of $10 per share. In addit 8. Find the value of retained earnings to balance the statement of financial position. The following additional information is available: Required: Prepare a classified statement of financial position in good form. Adjust the amounts in each SFP classification based on the additional information. 1. The current assets section includes the following: cash $160,500; accounts receivable $181,900, less $10,700 allowance for doubtful accounts; inventory $192,600; and warranty payable $5,350. The cash balance is composed of $192,600; and warranty payable $5,350. The cash balance is composed of Show all contra account balances where possible as well as net carrying value. Use proper disclosure techniques as appropriate. Inventory is stated at the lower of FIFO cost and net realizable value. Show all calculations. Be sure to list current assets in order of liquidity. 2. The investments section includes the following: note receivable from a related company, due in 2026, $42,800; FV-NI investments in shares $85,600 (fair value $85,600 ); FV-OCl investments in shares $133,750 (fair value $165,850 ); bond