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An analysis of the transactions of Cavernous Homes Inc. yields the following totals at December 31: cash, $3,600; accounts receivable, $4,500; notes payable, $3,600; supplies,
An analysis of the transactions of Cavernous Homes Inc. yields the following totals at December 31: cash, $3,600; accounts receivable, $4,500; notes payable, $3,600; supplies, $8,100; common stock, $8,500; and retained earnings, $4,100. Prepare a balance sheet for Cavernous Homes Inc. at December 31.
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