. Analyze the balance sheet. Use the balance sheet for Pet Specialty Supplies Inc. at December 31, 2009, to answer the following questions. (LO 3, 4)

a. List the assets the company had on December 31, 2009. Who has claim to these assets?

b. List the liabilities the company had on December 31, 2009.

c. Who are the potential users of this financial information?

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Assets Balance Sheet Pet Specialty Supplies Inc. At December 31, 2009 Liabilities and Shareholder's Equity Cash $ 3,000 Accounts payable $1,500 Short-term investments 30 Notes payable (van) 12,500 Accounts receivable 465 Inventory 725 Paid-in capital 2,000 Prepaid insurance 500 Retained earnings 4,020 Prepaid rent 300 Mobile grooming van (net) 15,000 $20,020 $20,020 a. List the assets the company had on December 31, 2009. Who has claim to these assets? b. List the liabilities the company had on December 31, 2009. c. Who are the potential users of this financial information?