Jan Featherston is a realtor. She organized her business as a proprietorship on November 1, 2006. Consider the following facts at November 30, 2006.

a. Featherston owes \(\$ 55,000\) on a note payable for land that her business acquired for a total price of \(\$ 80,000\).

b. The business spent \(\$ 20,000\) for a Coldwell Banker real estate franchise, which entitles Featherston to represent herself as a Coldwell Banker agent. This franchise is a business asset.

c. Featherston owes \(\$ 60,000\) on a personal mortgage for her personal residence, which she acquired in 2003 for a total price of \(\$ 150,000\).

d. Featherston has \(\$ 4,000\) in her personal bank account and \(\$ 7,000\) in her business bank account.

e. Featherston owes \(\$ 3,000\) on a personal charge account with Nordstrom.

f. Featherston acquired business furniture for \(\$ 14,000\) on November 25 . Of this amount, her business owes \(\$ 5,000\) on account at November 30.

g. Office supplies on hand at the real estate office total \(\$ 1,000\).

1. Prepare the balance sheet of the real estate business of Jan Featherston, Realtor, at November 30, 2006. 

2. Identify the personal items that would not be reported on the balance sheet of the business.