Table 13-11
the Following Accounts and Related Balances of ETH

Table 13-11
The following accounts and related balances of ETH Engineering Ltd. are as at December 31, 2017 prior to the closing journal entries.
$$\begin{array} { | l | r } \hline \text { Prademark, net } & \$ 17,000 \\\hline \text { Preferred Shares, } \$ 2.50,20,000 \text { authorized and issued } & 200,000 \\\hline \text { Cash } & 320,000 \\\hline \text { Accounts Receivable, net } &265,000 \\\hline \text { Accrued Liabilities } & 42,000 \\\hline \text { Long-term Note Payable } &500,000 \\\hline \text { Interest Expense } &35,000\\\hline \text { Inventory } & 350,000 \\\hline \text { Retained Earnings/(Deficit) } & (1,197,000) \\\hline \text { Accounts Payable } &75,000 \\\hline \text { Property, Plant, and Equipment, net } &2,800,000 \\\hline \text { Common Shares, 300,000 shares authorized; } 175,000 \text { shares } \\\text { Issued } & 3,500,000 \\\hline \text { Prepaid Expenses } &3,000 \\\hline \text { Organization Costs } &15,000 \\\hline\end{array}$$ Additional information:
$$\begin{array} { l l } \text { Total Assets, January } 1,2017 & \$ 3,200,000 \\\text { Net income for } 2017 & \$ 650,000\end{array}$$ No new shares were issued in 2017.
-Referring to Table 13-11,prepare a classified balance sheet as at December 31,2014.