The following additional information is available.1. Inventories are valued at l

The following additional information is available.1. Inventories are valued at lower of cost or market using LIFO.2. Equipment is recorded at cost. Accumulated depreciation computed on a straight-line basis is $50600.3. The short-term investments have a fair value of $29000. (Assume they are trading securities.)4. The notes receivable are due April 30 2016 with interest receivable every April 30. The notes bear interest at 6%. 5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivables of $50000 are pledged as collateral on a bank loan.6. Licenses are recorded net of accumulated amortization of $14000.7. Treasury stock is recorded at cost.InstructionsPrepare the current assets section of Yasunari Kawabata Companys December 31 2014 balance sheet with appropriate disclosures.