The adjusted trial balance of Eastwood Company and other related information

The adjusted trial balance of Eastwood Company and other related information for the year 2014 are presented as follows.EASTWOOD COMPANYADJUSTED TRIAL BALANCEDECEMBER 31, 2014DebitCreditCash$ 43,650Accounts Receivable166,150Allowance for Doubtful Accounts$ 9,004Prepaid Insurance6,204Inventory211,150Equity Investments (long-term)341,650Land87,650Construction in Progress (building)126,650Patents36,000Equipment402,650Accumulated Depreciation-Equipment242,650Discount on Bonds Payable20,000Accounts Payable150,650Accrued Liabilities51,850Notes Payable96,650Bonds Payable202,650Common Stock502,650Paid-in Capital in Excess of Par-Common Stock45,000Retained Earnings 140,650$1,441,754$1,441,754Additional information:1.The LIFO method of inventory value is used.2.The cost and fair value of the long-term investments that consist of stocks and bonds is the same.3.The amount of the Construction in Progress account represents the costs expended to date on a building in the process of construction. (The company rents factory space at the present time.) The land on which the building is being constructed cost $87,650, as shown in the trial balance.4.The patents were purchased by the company at a cost of $40,000 and are being amortized on a straight-line basis.5.Of the discount on bonds payable, $2,000 will be amortized in 2015.6.The notes payable represent bank loans that are secured by long-term investments carried at $122,650. These bank loans are due in 2015.7.The bonds payable bear interest at 7% payable every December 31, and are due January 1, 2025.8.600,000 shares of common stock of a par value of $1 were authorized, of which 502,650 shares were issued and outstanding.Prepare a balance sheet as of December 31, 2014, so that all important information is fully disclosed.(List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Building and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)