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Jaez Corporation is in the process of going through a reorganization. As of December 31, 2020, the company's accountant has determined the following information although the company is still several months away from emerging from the bankruptcy proceeding. Assets Cash Inventory Land Buildings Equipment Book Value $ 35,000 57,000 176,000 232,000 166,000 Fair Value Liabilities as of the date of the order for relief Accounts payable Accrued expenses Income taxes payable Common stock Deficit $ 35,000 59,000 242,000 272,000 169,000 Note payable (due 2023, secured by land) Note payable (due 2025) Note payable (due 2022) Stockholders' equity Liabilities since the date of the order for relief Accounts payable Prev Allowed Claims $ $ 135,000 $ 32,000 16,000 30,000 112,000 92,000 42,000 34,000 112,000 182,000 72,000 122,000 $ 212,000 (245,000) Expected Settlement Prepare the balance sheet for Jaez Corporation. (Negative amounts should be indicated by a minus sign.) 7 of 10

Jaez Corporation is in the process of going through a reorganization. As of December 31,2020 , the company's accountant has determined the following information although the company is still several months away from emerging from the bankruptcy proceeding. Prepare the balance sheet for Jaez Corporation. (Negative amounts should be indicated by a minus sign.) Jaez Corporation is in the process of going through a reorganization. As of December 31,2020, the company's accountant has determined the following information although the company is still several months away from emerging from the bankruptcy proceeding

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