ABC Company, Inc. Balance Sheet As of December 31, 2009 Assets Cash Accounts receivable Allowance for bad debts Prepaid rent Prepaid Insurance Inventory Equipment Accumulated Depreciation-Equipment Vehicle Accumulated depreciation Vehicle 73,000 113,000 (7,000) 12,000 15,000 125,000 45,000 (8,000) 36,000 (4,950) 399,050 Totat Assets Liabiities and Stockholder's Equity Accounts payable Unearned revenue 60,000 58,000 118,000 Total Liabilities Stockholder's equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity 50,000 231,050 281,050 399,050