As of December $31$ of the current year, Armani Company's records show the following.

Cash

Accounts receivable

Supplies

Equipment

Accounts payable

Common stock

Retained earnings, December $31,$ prior year

Retained earnings, December $31,$ current year

Dividends

Consulting revenue

Rental revenue

Salaries expense

Rent expense

Selling and administrative expenses

$$11,500$

$10,500$

$7,500$

$6,500$

$14,000$

$15,500$

$4,500$

$6,500$

$14,500$

$36,000$

$25,000$

$21,500$

$13,500$

$9,500$

Required:

Prepare the current year$-$end balance sheet for Armani Company.

ARMANI COMPANY

Balance Sheet

December $31$

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