Exercise 5-7 Presented below are selected accounts of Stellar Company at December 31, 2017 Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash (not including restricted cash) Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 57,700 Cost of Goods Sold 99,800 Notes Receivable 254,700 Accounts Receivable 39,300 Inventory (raw materials) 46,300 Supplies Expense 32,500 Allowance for Doubtful Accounts 36,800 Ucenses 58,400 Additional Paid-in Capital Treasury Stock $2,144,700 41,000 156,660 180,770 59,150 11,140 16,220 81,750 21,840 The following additional information is available. 1. Inventories are valued at lower-of-cost-or-market using LIFO. 2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $49,916. 3. The short-term investments have a fair value of $30.240. 4. The notes receivable are due April 30, 2019, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrued interest due on December 31, 2017.) 5. The allowance for doubtful accounts applies to the accounts receivable Accounts receivable of $53,200 are pledged as collateral on a bank loan. 6. Licenses are recorded net of accumulated amortization of $14,680. 7. Treasury stock is recorded at cost. Prepare the current assets section of Stellar Company's December 31, 2017, balance sheet, with appropriate disclosures. (List Current Assets in order of liquidity, Enter account name only and do not provide the descriptive information provided in the question.) STELLAR COMPANY Balance Sheet (Partial) $