·Balance Sheet Question:

• Requirements:
  • Create a balance sheet with the following account balances:
    • Cash: $40,000
    • Accounts Receivable: $25,000
    • Inventory: $35,000
    • Equipment: $80,000
    • Accumulated Depreciation: $25,000
    • Accounts Payable: $35,000
    • Notes Payable: $30,000
    • Common Stock: $70,000
    • Retained Earnings: $55,000