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The following balance sheet for the Los Gatos Corporation was prepared by a recenty hired accountant lin reviewing the statemient you notice several errors. Aclditional information: 1. Cash includes a $22000 restricted amount to be used for repayment of the bonds paysoble in 2028 2. The cost of the machinery is $194.000. 3. Accounts receivable includes a $22.000 notes recelvable from a customer due in 2027 . 4. The notes payoble balance includes accrued interest of $7,000. 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 $37.000 6. 52.000 shares of no par common stock were issued in 2019.200,000 shares sre authorized. Required: Prepare a corrected, classified balance sheet. Use the odditional informotion to heip determine appropriate cipssifications and account balances. The cost of mechinery and is accumulated depreciation are shown separately Notei Amounts to be deducted thould be Indicated by o minus uign. 2. The cost of the machinery is $194,000. 3. Accounts receivable includes a $22,000 notes recekable from a customer due in 2027 4. The notes paysble balance inciudes accrued interest of $7,000. Principal and interest are both due on Febnuary 1,2026. E. The compary began operations in 2019 . Net income less dividends since inception of the compamy totals $37.000. 6. 52,000 thares of no par common stokk were issued in 2019.200,000 shares are authorized. Bequlied; Prepare a corrected, classified balance sheet. Use the adcitionai information to help determine appropriate classifications and accoum palances. The cost of rrachinery and its accumulated depecelation are shown separately. Vote: Amounts to be dedueted should be Indleated by a aninus slgn

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