Answer and Explanation:
The balance sheet is shown below:-
Current assets Current liability
Cash $23,300 Accounts payable $37,400
Accounts
receivable $23,100 Notes payable due
Prepaid 2022 $62,000
Insurance $4,600 Interest payable $12,000
Supplies $190,000 Total current liabilities $111,400
Total Current Long term liabilities
assets $241,000
Long term Notes payable due 2031 $129,000
Investments $52,000
Property plants and
equipment
Land $45,000 Stockholders Equity
Building $275,000 Common stock $180,000
Less: Accumulated Retained Earnings $106,600
Depreciation $86,000
Property plants and Total stockholder equity $286,600
equipment $234,000
Total assets $527,000 Total Liabilities
and Stockholders’ Equity $527,000
Therefore the total assets is $527,000 while the total liabilities and stockholder equity is $527,000
