Following is a partially completed balance sheet for Epsico, Inc., at December 31, 2010, together with comparative data for the year ended December 31, 2009. From the statement of cash flows for the year ended December 31, 2010, you determine the following: Net income for the year ended December 31, 2010, was $26. Dividends paid during the year ended December 31, 2010, were $8. Cash increased $8 during the year ended December 31, 2010. The cost of new equipment acquired during 2010 was $15; no equipment was disposed of. There were no transactions affecting the land account during 2010, but it is estimated that the fair market value of the land at December 31, 2010, is $42.

Required:

Complete the balance sheet at December 31,2010.

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EPSICO, INC. Balance Sheets December 31, 2010 and 2009 2010 2010 Liabilities and Owners Equity Current liabilities Current assets: 5 30 Note payable $49 s 40 Accounts receivable 126 241 120 Accounts payable 110 Inventory Total current assets $380 Total current liabilities $172 150 Long-term debt $25 Total liabilities 375 Owners Equity 5$230 $200 $200 190 Total owners' equity390 Common stock (180 (160) Retained earnings Total land & equipment 4 Total liabilities and Total assets $620 owners' equity