Carla Vista Corporation was formed on January 1, 2025. At December 31, 2025. Margaret Moore, the president and sole stockholder. decided to prepare a balance sheet, which appeared as follows. Carla Vista Corporation Balance Sheet December 31, 2025 Assets Liabilities and Stockholders' Equity Cash $21,000 Accounts payable $31,500 Accounts receivable 48,000 Notes payable 14,100 Inventory 36,000 Boat loan 20,900 Boat 24,500 Stockholders' equity 63,000 Margaret willingly admits that she is not an accountant by training. She is concerned that her balance sheet might not be correct. She has provided you with the following additional information. 1. The boat actually belongs to Margaret, not to Carla Vista Corporation. However, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. To be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. The inventory was originally purchased for $25,900, but due to a surge in demand Margaret now thinks she could sell it for