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Prepare a classified balance sheet in good form. (No monetary amounts are to be shown.) P5-2 (L03) EXCEL (Balance Sheet Preparation) Presented below are a number of balance sheet items for Montoya, Inc., for the current year, 2017 Goodwill $ 125,000 Accumulated depreciation equipment $ 292,000 Payroll taxes payable 177,591 Inventory 239,800 Bonds payable 300,000 Rent payable (short-term) 45,000 Discount on bonds payable 15,000 Income taxes payable 98,362 Cash 360,000 Rent payable (long-term) 480,000 Land 480,000 Common stock, $1 par value 200,000 Notes receivable 445,700 Preferred stock, $10 par value 150,000 Notes payable (to banks) 265,000 Prepaid expenses 87,920 490,000 Accounts payable Equipment 1,470,000 Retained earnings ) 121,000 97,630 Accumulated depreciation-buildings Income taxes receivable 270,200 1,600,000 Buildings Notes payable (long-term) 1,640,000 Instructions VAS 20,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value Prepare a classified balance sheet in good form. Common stock authorized was 400,000 shares, and preferred stock authorized of equity investments (trading) are the same. P5-3 (L03) (Balance Sheet Adjustment and Preparation) The adjusted trial balance of Eastwood Company and other relate information for the year 2017 are presented as follows

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