Account balances for Wash company on September 30, 2018, are shown below. The figure for retained earnings is not given, but it can be determined when all the available information is assembled in the form of a balance sheet. Requirements: a. Prepare a balance sheet on September 30, 2018.

b. Does this balance sheet indicate that the company is in a strong financial position? Explain briefly.

$68,000 65,000 Accounts Payable... Accounts Receivable Buildings..... Cash.... Capital Stock Retained Earnings $14,000 800 52,000 9,200 100,000 ? Land... Machinery & Equipment Notes Payable (due in 30 days) ...... Salaries Payable Supplies ... 29,000 3,000 400