Presented below are the balances of the assets and liabilities of High-and-Dry DeliveryService as of September \(30,19 \mathrm{X} 2\). Also included are the revenue and expense figures of the busi-ness for September.

Required1. What type of business organization is High-and-Dry Delivery Service? How can you tell?2. Prepare the balance sheet of High-and-Dry Delivery Service as of September 30, 19X2.

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Delivery service revenue... Accounts receivable.. Accounts payable. Common stock. Salary expense. $4,100 Delivery equipment. 1,900 Supplies...... $15,500 600 1,750 Note payable. 6,000 5,100 Rent expense. 500 2,000 Cash... 750 Retained earnings.