Balance Sheet January 1, 20 During the first few days of January, the following transactions occurred: Jan 2 Equipment was purchased for $38,000 on credit. The business collected $16,000 of its accounts receivable and paid $23,000 of its accounts payable. 3 The business borrowed $60,000 from the bank, giving a note payable due in 90 days. Additional capital stock was issued in exchange for $27,000 cash. Balance Sheet January 4, 20 Assets Liabilities \& Owners' Equity Cash Liabilities: Accounts roccivable. Notes payable Land Accounts payable. Building Total liabilities. Equipment. Owners" equity: Capital stock Total assets. Total liabilities and owners' equity. Complete the January 31, 20_. balance sheet of Countrywide Legal Services using the following information. (1) Stockholders' equity at January 1, 20, included capital stock of $140,000. (2) The land and building were purchased by the business for a total price of $200,000 on January 25 , 20 . from a company forced out of business. On January 31, an appraiser valued the property at $260,000. (3) Additional capital stock was issued in exchange for $50,000cash. (4) Retained camings at January 31, 20__ amounted to $49,400. COUNTRYWIDE L.EGAL SERVICES Balance Sheet