E5-7 (current assets section of the balance sheet) presented below are selected accounts of yasunari kawabata company at december 31, 2014.finished goods $52,000 cost of goods sold $2,100,000unearned revenue 90,000 notes receivable 40,000equipment 253,000 accounts receivable 161,000work in process 34,000 raw materials 207,000cash 37,000 supplies expense 60,000equity investments (short-term) 31,000 allowance for doubtful accounts 12,000customer advances 36,000 licenses 18,000cash restricted for plant expansion 50,000 additional paid-in capital 88,000treasury stock 22,000the 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 $50,6003. the short-term investments have a fair value of $29,000 (assume they are trading securities.)4. the notes receivables are due april 30, 2016, with interest receivable every april 30. the notes bearinterest at 6% (hint: accrue interest due on december 31, 2014.)5. the allowance for doubtful accounts applies to the accounts receivable. accounts receivable of$50,000 are pledged as collateral on a bank loan.6. licenses are recorded net of accumulated amortization of $14,000 7. treasury stock is recorded at cost. instructions: prepare the current assets section of yasunari kawabata company�s december 31, 2014, balance sheet, with appropriate disclosures. current assetstitle amount title amount formula title amount title amount title amount formula title amount inventories at lower-of-cost-(determined using lifo)-or-market title amount title amount title amount formula total current assets formula does this look good below? $ 130,500*less: cash restricted for plant ,000) $ 55,500trading securities at fair value (cost, $46,,500accounts receivable (of which $75,000 ispledged as collateral on a bank ,500less: allowance for doubtful ,000) 223,500interest receivable [($60,000 x 12%) x 8/ 4,800inventories at lower of cost (determinedusing lifo) or marketfinished 78,000work-in- 51,000raw 310,500 439, current $766,800