Lynn Dreise is the bookkeeper for Sanculi Company. Lynn has been trying to get the balance sheet of Sanculi Company to balance. Sanculi’s balance sheet is shown on the next page.

Sanculi Company Balance Sheet December 31, 2014 Assets Liabilities Cash $14,000 Accounts payable $20,000 Supplies 8,000 Accounts receivable (8,500)
Equipment 48,000 Common stock 50,000 Dividends 9,000 Retained earnings 17,500 Totallassetsew 679/000 Total liabilities and ——— stockholders’ equity $79,000 Instructions Prepare a correct balance sheet.