The bookkeeper for sunland company has prepared the following balance sheet as of july 31, 2020. sunland company balance sheet as of july 31, 2020 cash $ 72,780 notes and accounts payable $ 47,780 accounts receivable (net) 44,280 long-term liabilities 78,780 inventory 63,780 stockholders’ equity 159,280 equipment (net) 84,000 $285,840 patents 21,000 $285,840 the following additional information is provided. 1. cash includes $1,200 in a petty cash fund and $13,000 in a bond sinking fund. 2. the net accounts receivable balance is comprised of the following two items: (a) accounts receivable $47,780 and (b) allowance for doubtful accounts $3,500. 3. inventory costing $5,595 was shipped out on consignment on july 31, 2020. the ending inventory balance does not include the consigned goods. receivables in the amount of $5,595 were recognized on these consigned goods. 4. equipment had a cost of $115,780 and an accumulated depreciation balance of $31,780. 5. income taxes payable of $6,000 were accrued on july 31. sunland company, however, had set up a cash fund to meet this obligation. this cash fund was not included in the cash balance but was offset against the income taxes payable amount. prepare a corrected classified balance sheet as of july 31, 2020, from the available information, adjusting the account balances using the additional