Correcting the Presentation of a Classified Balance Sheet The following draft of a balance sheet was prepared for Roslyn Corp, but includes a number of errors in classification presentation, and computation Roslyn Corp Balance Sheet December 31, 2020 Cash 560,000 Building 282,500 Equipment 55,000 Accounts receivable 120,500 Investments, short term 70,000 Inventory 162.500 Prepaid rent 2.500 Investments, long term 70,000 Franchise 20,000 Total 5343,000 Labies Accounts payable $100.000 Note payable 1500 Didends payable 5,000 Deferred revenue 1500 Accumulated deprecation 40,000 Bonds payable 100.000 Total 235.000 Stadholders uity Common stock 237,500 ned earrings 277,500 Accumulated other comprehensive income 17,000 Total stockholders equity 500.000 Total abilities and stod holders equity 5842.000 Additional information Note payable includes interest due of $1.000. The note is due in two years and interest is due in 6 months Net accounts receivable of $120.500 consists of accounts receivable of 5128.500 minus an allowance for doubtful accounts of 58.000 Common stock includes 587.500 attributed to additional paid in capital included in the cash balance is $10.000 of cash restricted for 9 months due to a debt covenant. Required Required Prepare a corrected classified balance sheet for Roslyn Corp. on December 31, 2020. Do not use negative signs with any of your answers. List current liabilities and long-term liabilities in the order of the largest dollar amount to the smallest dollar amount. . Balance Sheet As of December 31, 2020 Assets Current assets Cash Accounts receivable Accounts receivable, net Short-term investments Inventory Prepaid rent Investments Property, plant, and equipment e Equipment Intangible assets e Liabilities and Stockholders' Equity Current liabilities . e Long-term liabilities Stockholders' equity Common stock Paid in capital in excess of par e 7,000