The assets, liabilities, and equities of Damon Design Studio have the following balances at December 31, 2024. The owner, Eric Damon, began the year with a $39,000 capital balance, contributed $13,000, and withdrew $57,000 during the year.

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

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