Andrew Smith prepared the following balance sheet at December 31, 2022. He is planning to apply for a loan at the First County Bank in the hope of buying a new new delivery truck. Smith Delivery Service Balance Sheet December 31, 2022 Cash $800 Accounts payable $600 Accounts receivable 400 Salaries and wages payable 200 Supplies 100 Note payable 12,100 Prepaid insurance 900 Total liabilities 12,900 Equipment $23,000 Common stock 5,200 Less: Accumulated depreciation (6,000) 17,000 Retained earnings 1,100 Total stockholders' equity 6,300 Total assets $19,200 Total liabilities and stockholders' equity $19,200 The note is due in monthly installments of $450.