Carlos Ramirez and Camila Garza organized New World Book Store as a corporation; each contributed $71,900 cash to start the business and received 5,700 shares of common stock. The store completed its first year of operations on December 31, 2014. On that date, the following financial items for the year were determined: December 31, 2014, cash on hand and in the bank, $69,150; December 31, 2014, amounts due from customers from sales of books, $39,000; unused portion of store and office equipment, $79,500; December 31, 2014, amounts owed to publishers for books purchased, $12,200; one-year note payable to a local bank for $3,700, with interest due of $180. No dividends were declared or paid to the stockholders during the year.

How will I find for Cash, Accounts receivable, Store and office equipment from Asset side. And Account payabl, Note payable, and interest payable from Liability side. And Commond Stock from Stockhelders' Equity side. And What was the amount of net income for the year?

Complete the following balance sheet as of the end of 2014. Some information has been given below. NEW WORLD BOOK STORE Balance Sheet At December 31, 2014 Assets Liabilities Cash Accounts receivable Store and office equipment Accounts payable Note payable Interest payable 180 Total liabilities 180 Stockholders' Equity Common stock 27,770 27,770 27,950 Retained earnings Total stockholders' equity 0 Total liabilities and stockholders' equity Total assets