b) You have the following information to complete a Balance Sheet with the appropriate sections including Fixed Assets, Current Assets, Other Assets, Long Term Liabilities, short term liabilities and Equity. Explain the purpose of the balance sheet and what the figures on the balance sheet means to the company. \begin{tabular}{|l|r|} \hline Long Term Loan & 200,000 \\ \hline Cash and cash & 95,000 \\ \hline Accounts receivable & 22,000 \\ \hline \end{tabular} b) You have the following information to complete a Balance Sheet with the appropriate sections including Fixed Assets, Current Assets, Other Assets, Long Term Liabilities, short term liabilities and Equity. Explain the purpose of the balance sheet and what the figures on the balance sheet means to the company. \begin{tabular}{|l|r|} \hline Long Term Loan & 200,000 \\ \hline Cash and cash & 95,000 \\ \hline Accounts receivable & 22,000 \\ \hline \end{tabular}