The following data, presented in alphabetical order, are taken from the records of

Wellman Corporation.

Accounts payable.........................$ 150,000

Accounts receivable..........................90,000

Accumulated depreciation—buildings................180,000

Accumulated depreciation—equipment................52,000

Allowance for doubtful accounts...................6,000

Bonds payable (10%, due 2025)...................350, 000

Buildings............................900, 000

Cash................................63,000

Common stock ($5 par value; 500,000 shares

Authorized, 240,000 shares issued)................$1,200,000

Debt investments.........................400, 000

Discount on bonds payable.....................20,000

Dividends payable.........................50, 000

Equipment...........................275,000

Goodwill............................190, 000

Income taxes payable..........................70,000

Inventory...........................170,000

Land................................410,000

Notes payable (due 2015)......................70,000

Paid-in capital in excess of par value.................464, 000

Prepaid insurance.........................16, 000

Retained earnings........................310,000

Stock investments (Lawton Inc. stock, 30% ownership,

at equity)...........................240,000

Stock investments (short-term, at fair value)...............128,000

Instructions

Prepare a balance sheet at December 31, 2014