Brandon Marchand is the owner of Divine Jewels, a store specializing in gold, platinum, and special stones. During the past year, in response to increased demand, Brandon doubled his selling space by expanding into the vacant building space next door to his store. This expansion has been expensive because of the need to increase inventory and to purchase new store fixtures and equipment, including carpeting and state-of-the-art built-in fixtures. Brandon notes that the companys cash position has decreased and he is worried about future demands on cash to finance the growth. Brandon presents you with a statement showing the assets, liabilities, and his equity for year-end 20X0 and 20X1, and asks your opinion on the companys ability to pay for the recent expansion. He did not have income and expense data available at the time. He commented that he had not made any new investment in the business in the past two years and was not financially able to do so presently. The information presented is shown below:

	December 31, 20X0						December 31, 20X1
Assets
Cash	$	155,000					$	40,500
Accounts receivable		47,500						94,000
Inventory		110,000						239,000
Prepaid expenses		6,500						9,500
Store fixtures and equipment		182,500						405,000
Total Assets				$	501,500					$	788,000
Liabilities and Owners Equity
Liabilities
Notes payable (due in 4 years)	$	95,000					$	260,000
Accounts payable		137,000						181,000
Salaries payable		18,500						22,000
Total Liabilities				$	250,500					$	463,000
Owners Equity
Brandon Marchand, Capital					251,000						325,000
Total Liabilities and Owners Equity				$	501,500					$	788,000

Required: Prepare classified balance sheets for Divine Jewels for December 31, 20X0, and December 31, 20X1. (Ignore depreciation.)

write the balance sheet using the information above.