. Analyze the balance sheet. Use the balance sheet for Rainy Day Umbrellas \& Raincoats Inc. at June 30, 2009, to answer the following questions: (LO 3, 4)

a. List the assets the company had on June 30, 2009. Who has claim to these assets?

b. List the liabilities the company had on June 30, 2009.

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

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Assets At June 30, 2009 Cash Short-term investments Balance Sheet Rainy Day Umbrellas & Raincoats Inc. Liabilities and Shareholders' Equity $ 4,500 Accounts payable $ 2,500 350 Notes payable (equipment) 10,250 Accounts receivable 385 Inventory 250 Contributed capital Prepaid insurance 200 Retained earnings 3,450 2,485 Prepaid rent 500 Equipment (net) 12,500 $18,685 $18,685 a. List the assets the company had on June 30, 2009. Who has claim to these assets? b. List the liabilities the company had on June 30, 2009. c. Who are the potential users of this financial information?