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, Dec. 31, prior year Retained earnings, Dec. 31, current year Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $12,000 11,000 8,000 7,800 15,000 16,000 5,000 7,000 15,000 37,000 26,880 22,000 14,000 10,000 Required: Prepare the current year-end balance sheet for Armani Company ARMANI COMPANY Balance Sheet December 31 Assets Liabilities Total liabilities 0 Equity 0 Total equity Total liabilities and equity Total assets $ $ 0