2-23 (Algo) Complete the balance sheet LO 2, 3, 5 A partially completed balance sheet for Blue Co. Inc. as of October 31, 2019, is presented. Where amounts are shown for various items, the amounts are correct Required: Using the following data, complete the balance sheet. a. Blue Co's records show that current and former customers owe the firm a total of $4,100; $690 of this amount has been due for more than a year from two customers who are now bankrupt b. The automobile, which is still being used in the business, cost $16,500 new, a used car dealer's Blue Book shows that it is now worth $10,000. Management estimates that the car has been used for one-third of its total potential use. (The car is being depreciated using the straight-line method.) c. The land cost Blue Co. $12,000, it was recently assessed for real estate tax purposes at a value of $16,000. d. Blue Co's president isn't sure of the amount of the note payable, but he does know that he signed a note. e. Since Blue Co. was formed, net income has totaled $32,000, and dividends to stockholders have totaled $21,500. (Enter decreases with a minus sign to indicate a negative financial statement effect.) BLUE CO. INC. Balance Sheet faw October 31, 2019 Assets $ 950 Note payable Cash Accounts receivable Land Automobile Less Accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders equity 3,450 5,600