I agree with Rambler on all he added & too say be careful on spending a lot on this bike. Current value as sits maybe $200, parted out maybe $400-$600 dependent on condition of parts and rarity of items. If you restored this bike just to riding condition I would think top value still less than sum of parts value as it sits at maybe $300-$400. Fully restored probably same or less than that. To restore it just to rideable condition you are going to have to spend probably at the minimum $550. $300 on tires, $100 on a good condition correct seat or repairing the boys seat, $50 on correct repop grips or more for originals, minimum $100 in miscellaneous you WILL find wrong or broke. Even if you swapped rims to 700c & modern tires you are at $300 min on tires & rims plus another $100 on having them built, still high dollar to get to rideable.
I would only restore this or get it to riding condition if you TRULY LOVE IT and plan to keeping it a long time. It is a very cool girls bike as I said earlier but too many issues. A perfect example is my current 1930 project bike I am restoring to original riding condition, no replating, no painting but was missing a lot of parts. I have sunk $1800 into a bike worth maybe $600 tops when I'm done so I'll never recoup my investment but I LOVE the bike & plan on keeping it very long term. I wanted it put back & that's the price I am willing to pay to do it but you need to understand correct parts for these old bikes are often hard to find & pricey. Yours to do what you want but carefully consider it before you jump in and definitely price out what it would take to get it back on the road in total before you make that decision.
I couldn't justify spending that much money on any bike, especially a girls bike that I would never ride. Thankfully I didn't pay much for the bike. I picked it up with a few others and knew it had to have some value. If I did anything I would just clean it up and rebuild the hubs, bottom bracket, and headset. Too bad it doesn't have a front tire though. I think it looks cool as is, even if I just hung it on the wall. I'm going to have to think about what to do with it. Thanks again for the information, and I'll post some new pics and the serial number later.