a. b. C. d. e. Hutchison has $13,000 in his personal bank account and $49,000 in the business bank account. Hutchison owes $5,100 on a personal charge account at a local department store. Hutchison acquired business furniture for $15,900 on December 24. Of this amount, the business owes $4,000 on accounts payable at December 31. Office supplies on hand at the real estate office total $1,000. Hutchison's business owes $135,000 on a note payable for some land acquired for a total price of $151,000. Hutchison's business spent $25,000 for a Local Realty franchise, which entitles him to represent himself as an agent. Local Realty is a national affiliation of independent real estate agents. This franchise is a business asset. Hutchison owes $194,000 on a personal mortgage on his personal residence, which he acquired in 2014 for a total price of $343,000. f. g. Caden Hutchison is a realtor. He organized his business as a corporation on December 16, 2022. The business received $85,000 cash from Hutchison and issued corrmon stock. Consider the following facts as of December 31, 2022: (Click the icon to view the facts.) Read the requirements Requirement 1. Prepare the balance sheet of the real estate business of Caden Hutchison Realtor, Inc., at December 31, 2022. (Do not classily the balance sheet into current and long-term sections. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. If an input field is not used in the balance sheet leave the field empty, do not select a label or enter a zero.) Assets Liabilities Stockholders' Equity Total assets Total liabilities and stockholders' equity Requirement 2. Does it appear that the realty business can pay its debts? How can you tell? The business pay its debt, as assets are liabilities Requirement 3. Identify the personal items given in the preceding facts that should not be reported on the balance sheet of the business. (lf an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Personal financial information of Caden Hutchison