Balance Sheet The following items are available from records of Freescia Corporation at the end of the 2010 calendar year:

Accounts payable $12,550 Notes payable $50,000 Accounts receivable 23,920 Offi ce equipment 12,000 Advertising expense 2,100 Retained earnings, end of year 37,590 Buildings 85,000 Salary and wage expense 8,230 Capital stock 25,000 Sales revenue 14,220 Cash 4,220 Required Prepare a balance sheet. Hint: Not all of the items listed should appear on a balance sheet. For each non-balance-sheet item, indicate where it should appear.

AppendixLO1