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3. The Maverick Company has the following account balances at the end of December. Show that Mavericks balance sheet does balance using the accounting equation.

3. The Maverick Company has the following account balances at the end of December. Show that Mavericks balance sheet does balance using the accounting equation. Cash $8,000 Capital Stock $120,000 Inventory $16,000 Note Payable $45,000 Retained Earnings $29,000 Building $158,000 Equipment $30,000 Accounts Payable $11,000 Salary Payable $7,000

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