ACC 421-The following is the balance sheet of Sameed Brothers

ACC 421-The following is the balance sheet of Sameed Brothers

Subject: Business    / Accounting
Question

WRITING (Critique of Balance Sheet Format and Content) The following is the balance sheet of Sameed Brothers Corporation (000s omitted).
SAMEED BROTHERS CORPORATION
Balance Sheet
December 31, 2017
Assets
Current assets
Cash    $26,000
Marketable securities    18,000
Accounts receivable    25,000
Inventory    20,000
Supplies    4,000
Stock investment in subsidiary company    ?20,000    $113,000
Investments
Treasury stock    25,000
Property, plant, and equipment
Buildings and land    91,000
Less: Reserve for depreciation    ?31,000    60,000
Other assets
Cash surrender value of life insurance    19,000
Total assets    $217,000
?? ? ????
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable    $22,000
Reserve for income taxes    15,000
Customers’ accounts with credit balances    ??????1    $ 37,001
Deferred credits
Unamortized premium on bonds payable    2,000
Long-term liabilities
Bonds payable    ??60,000
Total liabilities    99,001
Common stock
Common stock, par $5    85,000
Earned surplus    24,999
Cash dividends declared    ???8,000    ?117,999
Total liabilities and stockholders’ equity    $217,000
?? ? ????
Instructions

Evaluate the balance sheet presented.