Correct an incorrectly prepared balance sheet.

(LO 3)

E1-10BJohn Paul is the bookkeeper for Eaton Company. John has been trying to get the balance sheet of Eaton Company to balance. It finally balanced, but now hes not sure it is correct.

EATON COMPANY Balance Sheet December 31, 2014
Assets				Liabilities and Stockholders Equity
Cash		$28,500		Accounts payable		$ 6,000
Supplies		4,500		Accounts receivable		(15,000)
Equipment		30,000		Common stock		42,000
Dividends		10,000		Retained earnings		40,000
Total assets		$73,000		Total liabilities and stockholders equity		$73,000

Instructions

Prepare a correct balance sheet.