Balance Sheet Preparation Orange Company has goods held for sale to customers of $34,000, equipment that it purchased recently for $56,000, and cash of $3,800 in the bank. The company owes its employees $1,600 for wages and has a loan from the bank with a remaining balance of $8,000. Owners have an equity in the company of $84,200. The company has asked its bank for an additional loan, but the bank is reluctant to lend the company in total more than half of the amount of the company’s owners’ equity. Prepare a balance sheet for Orange Company and determine the maximum additional loan for which Orange might qualify.