At the beginning of July, Patti Dwyer established PD Company, investing \(\$ 20000\) cash in the business. On 5 July the company purchased land and a building, making a \(\$ 6000\) down payment

(which was 10 per cent of the purchase price) and signing a 10-year mortgage for the balance owed. The land was 20 per cent of the cost and the building was 80 per cent of the cost. On 17 July the company purchased \(\$ 3800\) of office equipment on credit, agreeing to pay half the amount owed in 10 days and the remainder in 30 days. On 27 July the company paid the amount due on the office equipment. On 31 July the company sold \(\$ 900\) of the office equipment that it did not need to another company for \(\$ 900\). That company signed a note requiring payment of the \(\$ 900\) at the end of one year.

Required:

Based on the above information, prepare a balance sheet for PD Company on July 31. Show supporting calculations. Ignore GST in this question.