Phopare a claso- 5-5 (L03) (Preparation of a Corrected Balance Sheet) Uhura Company has decided to e

Phopare a claso- 5-5 (L03) (Preparation of a Corrected Balance Sheet) Uhura Company has decided to expand its operations. The book- keper recently completed the balance sheet presented below in order to obtain additional funds for expansion. oin E5-7 (LL Kawabata UHURA COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017 Curnent assets Cash Accounts receivable (net) Inventory (lower-of-average-cost-or-market) $230,0004 340,000 401,000 140,000 Equity investments (trading)-at cost (fair value $120,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Cash surrender value of life insurance Prepaid expenses Current liabilities Accounts payable Notes payable (due next year) ol Pension obligation Rent payable Premium on bonds payable Long-term liabilities Bonds payable Stockholders' equity Common stock, $1.00 par, authorized 400,000 shares, issued 290,000 Additional paid-in capital Retained earnings 570,000 160,000 175,000 80,000 90,000 12,000 The 135,000 125,000 82,000 49,000 53,000 d500,000 290,000 160,000 Instructions Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $160,000 and for the equipment, $105,000. The allowance for doubtful accounts has a balance of $17,000. The pension obligation is considered long-term liability a