b. Cash disbursements were as follows: Payments for inventory (furniture) Paid to the landlord Salaries (paid up through Dec. 31) Utilities Insurance (one-year policy paid in Jan) Purchased a used delivery truck 400,000 30,000 40,000 10,000 5,000 40,000 ACCT 3270 Ch. 3 DMP 25 points Hartley Furniture Company, Inc. was started by Fred Hartley in January of 2022. Fred had limited resources but had excellent credit and people trusted him. To secure the start-up funds, he issued shares of stock to his friends and family and obtained a bank loan. His first year in business was so successful that he is now considering a second location in a nearby town. He will need to secure another bank loan for the second location as he would prefer to use his cash for purchases of additional inventory. Fred is a wonderful furniture salesperson and is quite intuitive about furniture trends. Fred is not, however, an accountant. He needs your help to put together a balance sheet for the bank. He provided you with the following information to use in preparing a 2022 year-end balance sheet. Round all numbers to the nearest whole number. a. Cash receipts during the year came from the following sources: From sales: From issuing common stock: From his first bank loan 500,000100,000200,000 Jse examples of balance sheets from chapter 3 or throughout your text to help you! reparation of a balance sheet requires an understanding of relationships between income statement and balance sheet accounts. Consider the timing of the financial statements and the work that must be done prior to producing financial statements. tere is a check number: total assets on December 31,2022 , should equal $463,000