ive: Balance sheet, The following is an alphabetical listing of Stone Boat Company's balance sheet accounts and account balances on December 31, 2019: Accounts Payable $19,700 $44,200 37,100 Accounts Receivable 85,300 109,300 30,000 20,000 91,000 3,200 6,800 1,600 17,000 32,000 12,500 13,800 296,700 84,600 80,000 Accumulated Depreciation Additional Paid-in Capital on Common Stock Additional Paid-in Capital on Preferred Stock Allowance for Doubtful Accounts Bond Sinking Fund Cash Common Stock Income Taxes Payable Inventory Investment in Affiliate Long-Term Liabilities (book value) Miscellaneous Current Payables Notes Receivable Preferred Stock Property, Plant, and Equipment Retained Earnings Additional information: 1. The company reports on the balance sheet the net book value of property and equipment and long-term liabilities (known as control accounts). The related details are disclosed in the notes. 2. The straight-line method is used to depreciate property and equipment based upon cost, estimated residual value, and estimated life. The costs of the assets in this account are: land, $29,500; buildings, $164,600; store fixtures, $72,600; and office equipment, $30,000. 3. The accumulated depreciation breakdown is as follows: buildings, $54,600; store fixtures, $37,400; and office equipment, $17,300. 4. The long-term debt includes 12%, $36,000 face value bonds that mature on December 31, 2024, and have an unamortized bond discount of $1,000; 11%, $48,000 face value bonds that mature on December 31, 2025, have a premium on bonds payable of $1,800, and whose retirement is being funded by a bond sinking fund; and a 13% note payable that has a face value of $6,200 and matures on January 1, 2022. 5. The non-interest-bearing note receivable matures on June 1, 2023. 6. Inventory is listed at lower of cost or market; cost is determined on the basis of average cost. 7. The investment in affiliate is carried at cost. The company has guaranteed the interest on 12%, $50,000, 15-year bonds issued by this affiliate, Jay Company. 8. Common stock has a $10 par value per share, 10,000 shares are authorized, and 1,000 shares were issued during 2019 at a price of $13 per share, resulting in 8,000 shares issued at year-end. 9. Preferred stock has a $50 par value per share, 2,000 shares are authorized, and 140 shares were issued during 2019 at a price of $55 per share, resulting in 640 shares issued at year-end. 0. On January 15, 2020, before the December 31, 2019, balance sheet was issued, a building with a cost of $20,000 and a book value of $7,000 was totally destroyed. Insurance proceeds will amount to only $5,000. 1. Net income and dividends declared and paid during the year were $50,500 and $21,000, respectively. Required: 1. Prepare Stone Boat's December 31, 2019, balance sheet.