3. Earlene Rensir is the owner of the Smokey Pit Bar-B-Q restaurant and she is preparing a balance sheet for her business. Using the data below, help Earlene complete the spreadsheet she will use to determine the amount of assets, liabilities, and owners' equity she has in the business. Smokey Pit Bar-B-Q Assets and Liabilities Owned by the Business Cash on hand Inventory on hand Value of equipment Value of building $25,000 $45,000 $300,000 $2,000,000 Smokey Pit Bar-B-Q Liabilities Owed by the Business Amount owed to vendors Amount owed to lenders $175,000 $1,500,000 (1) How much assets does Earlene have in her business? (2 points) (2) How much liabilities doe Earlene have? (2 points) (3) What is the amount of Earlene's equity? (2 points)