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

SWEET COMPANY BALANCE SHEET FOR THE YEAR ENDED 2017
Current assets
Cash		$237,000
Accounts receivable (net)		347,000
Inventory (lower-of-average-cost-or-market)		408,000
Equity investments (marketable)-at cost (fair value $127,000)		147,000
Property, plant, and equipment
Buildings (net)		577,000
Equipment (net)		167,000
Land held for future use		182,000
Intangible assets
Goodwill		87,000
Cash surrender value of life insurance		97,000
Prepaid expenses		19,000
Current liabilities
Accounts payable		142,000
Notes payable (due next year)		132,000
Pension obligation		89,000
Rent payable		56,000
Premium on bonds payable		60,000
Long-term liabilities
Bonds payable		507,000
Stockholders equity
Common stock, $1.00 par, authorized 400,000 shares, issued 297,000		297,000
Additional paid-in capital		167,000
Retained earnings		?

Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $167,000 and for the equipment, $112,000. The allowance for doubtful accounts has a balance of $24,000. 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.)

SWEET COMPANY Balance Sheet For the Year ended

Assets

Current Assets

Cash $237000

Equity Investments 147000

Accounts Receivable $371000

Less:

Allowance for Doubtful Accounts 24000 247000

Inventory 408000

Prepaid Expenses 19000

Total Current Assets $1158000

_________________

_________________ _______

Cash Surrender Value of Life Insurance 97000

________________ ______________

Property, Plant, and Equipment

Building 744000

Less:

Accumulated Depreciation- Building 167000 577000

Equipment 279000

Less:

Accumulated Depreciation-equipment 112000 167000

Total Property, plant, equipment _________

___________________

________________ __________

Total Assets ___________

Liabilities and Stockholders Equity

Current Liabilities

Accounts Payable _________

Notes Payable _________

Rent Payable __________

Total Current Liabilities ____________ Long- Term Liabilities

Bonds Payable __________

Add:

__________________ ___________ ___________

Pension Obligation ___________ ____________

Total Liabilities _____________

Stockholders Equity

Common Stock ____________

Additional paid in capital _____________ ____________

Retained Earnings ____________

Total Stockholders Equity _____________

Total Liabilities and Stockholders Equity _____________

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