Use the appropriate items from the following list to prepare in good form Mellark’s Baked Goods

P3-6  Use the appropriate items from the following list to prepare in good form Mellark’s Baked Goods balance sheet at December 31, 2015. 

Item Value at ($000) December 31, 2015  Item Value ($000) at December 31, 2015

Accounts payable $ 220

Inventories $375

Accounts receivable 450

Land 100

Accruals 55

Long-term debts 420

Accumulated depreciation 265

Machinery 420

Buildings 225

Marketable securities 75

Cash 215

Notes payable 475

Common stock (at par) 90

Paid in capital in excess Cost of goods sold 2,500

of par 360

Depreciation expense 45

Preferred Stock 100

Equipment 140

Retained Earnings 210

Furniture and fixtures 170

Sales Revenue 3,600

General expense 320

Vehicles 25