5 Part 1 of 2 Required information {The following information applies to the questions displayed below.) Carlos Ramirez and Camila Garza organized New World Book Store as a corporation; each contributed $70,300 cash to start the business and received 4,500 shares of common stock. The store completed its first year of operations on December 31, current year. On that date, the following financial items for the year were determined: December 31, current year, cash on hand and in the bank, $69,750; December 31, current year, amounts due from customers from sales of books, $43,000; unused portion of store and office equipment, $80,000; December 31, current year, amounts owed to publishers for books purchased, $13,000; one-year note payable to a local bank for $3,400. No dividends were declared or paid to the stockholders during the year. 1 points eBook Required: 1. Complete the following balance sheet as of the end of current year. Some information has been given below. 001 Hint NEW WORLD BOOK STORE Balance Sheet Print Assets Cash lo References Accounts receivable Store and office equipment 200 $ 200 Liabilities Accounts payable Note payable Interest payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity 0 Total liabilities and stockholders' equity $ $ 35,550 35,550 35,750 Total assets $