The following are the balances of the assets, liabilities, and equity of Fitness Fanatics at March 31, 2018:

Requirements

1. What type of business organization is Fitness Fanatics?

2. Prepare the balance sheet of the business at March 31, 2018.

3. What does the balance sheet report?

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Cash . Retained Earnings. Accounts Payable. Accounts Receivable. . Office Equipment.. Common Stock. Note Payable. $15,000 12,300 3,300 $10,300 6,000 5,000 Supplies. 600 700