Complete the balance sheet below using the following information: You want a 'snapshot' of your business finances at the end of YEAR 5, of your business operation. (A) To start your company you took out a business loan of $400,000.00, your monthly payment of 2500$ and annual interest rate of 4%; compounded monthly (B) After year 2 your balance sheet showed $100,000.00 total equity, you used half as retained earnings and half to make a 3 year investment with an annual interest rate (compounded (F) any equity accrued will be put entirely into retained earnings. FIT2248 Company Balance Sheet *Use Excel and show your work where applicable Assets 2018 Current Assets Business Chequing Account Balance 185000 Cash 1st Month Rent on service facility 3000 Accounts receivable Annual Business Insurance payment (prepaid for year) 7000 Inventory Invoiced membership fees (unpaid) 20000 Prepaid expenses Sold merchandise (unpaid) 15000 Total current assets Value of building (purchased when you started your business, appreciating at 3%/year) (C) 200000 Fixed (Long-Term) Assets Money owed to supplier for merchandise 22000 Long-term investments (B) Money owed to parking plow company 3000 (Less accumulated depreciatior Property, plant, and equipment (C/D) Money owed to delivery company 5000 Total fixed assets Value of equipment (purchased when you started your business, depreciating at 3%/year) (D) 100000 Value of Merchandise in storage 50000 Total Assets Previous year taxable income (tax rate of 30%) (E) 460000