Question: please prepare the balance sheet how it is in the picture The following balance sheet for the Los Gatos Corporation was prepared by a recently

please prepare the balance sheet how it is in the picture
please prepare the balance sheet how it is in the picture 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

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 intomation 1. Cash includes a $32,000 restricted amount to be used for repayment of the bonds payoble in 2028 . 2. The cost of the machinery is $214,000 3. Accounts recelvable includes a $32.000 notes recelvable from a customer due in 2027. 4. The notes payable bolance includes accrued interest of $17,000. Principal and interest ace both due on February 1,2025. 5. The company began operations in 2019 . Net income less dividends since inception of the company totals $47,000 6. 62.000 shares of no par common stock were issued in 2019.200,000 shares are authorized. Required: Prepare a corrected, classifled balance sheet Use the additionat information to help determine approprlate classifications and account bolances. The cost of machinery and its accumulated depreclation are shown separately. Note: Amounts to be deducted should be indicated by a minus sign. 1. Cash includes a $32,000 restricted amount to be used for repayment of the bonds payable in 2028 2. The cost of the machinery is $214,000. 3. Accounts recelvable includes a $32,000 notes receivable from a customer due in 2027. 4. The notes payable balance includes accrued interest of $17,000. Principal and interest are both due on February 1,2025 . 5. The company began operations in 2019. Net income less dividends since inception of the company totals $47,000. 6. 62,000 shares of no par common stock were issued in 2019. 200,000 shares are authorized. Required: Prepare a corrected, classified balance sheet. Use the additional information to help determine appropriate classifications and accou balances. The cost of machinery and its accumulated depreclation are shown separately. Note: Amounts to be deducted should be indicated by a minus sign

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