Chapter 3 Homework Exercise 3-9 Balance sheet preparation [LO3-2, 3-3) The following is the balance sheet of Korver Supply Company at December 31, 2017 2 points SUPPLY CO Assets cash Accounts receivable Inventories Furniture and fixtures, net $170,000 340,000 290,000 190.0 $990.000 Total assets Liabilities and Shareholders" Equity Accounta payable (for merchandise) Note payable Interest payable $290,000 300,000 10,500 130 000 259,500 $990,000 Retained earnings Total liabilities and shareholders equi Transactions during 2018 were as follows