Prepare the balance sheet for Damon Design Studio as of December 31, 2024.

Use the following information to answer Exercises E-F:1-34 through E-F:1-36.
The assets, liabilities, and equities of Damon Design Studio have the following balances at December 31, 2024. The Retained Earnings was $39,000 at the beginning of the year. At year end, Common Stock was $13,000 and Dividends were $57,000

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Notes Payable Rent Expense Cash Office Supplies Salaries Expense Property Tax Expense $ 14,000 Office Furniture 23,000 Utilities Expense 3,200 Accounts Payable 5,100 Service Revenue 65,000 2,200 Accounts Receivable Miscellaneous Expense $ 48,400 7,200 3,600 154,600 9,300 3,800