Calculate total assets, total liabilities, and total shareholders' equity. Total assets Total liabilities tA Total shareholders' equity $ Prepare Blossom's accounting equation. Equation: = + + $ Accounts payable $3,200 Liability Accounts receivable 13,000 Asset Bank loan payable 32,000 Liability Cash 9,350 Asset Common shares 20,000 Shareholders' Equity Equipment 30,000 Asset Income tax payable 1,200 Liability Intangible assets 5,000 Asset Interest payable 300 Liability Inventory 9,000 Asset Prepaid insurance 1,000 Asset Retained earnings 33,250 Shareholders' Equity Salaries payable 700 Liability Supplies 2,500 Asset Unearned revenue 1,200 Liability Vehicles 22,000 Asset