Create a Balance Sheet for American Laser, Inc.

Note: On the picture of the Balance Sheet I put in "Asset" or "Total Asset" so that it is clear where classifications fit and where totals fit.

American Laser, Inc., reported the following account balances on January 1 Debit $ 5,000 Credit Accounts Receivable Accumulated Depreciation Additional Paid-in Capital Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock, 10,000 shares Notes Payable (long-term) Retained Earnings Treasury Stock TOTALS 30,000 90,000 2,000 247,000 10,000 of $1 par 10,000 10,000 120,000 $262,000 $262,000 The company entered into the following transactions during the year Jan. 15 Issued 5,000 shares of $1 par common stock for $50,000 cash. Jan. 31 Collected $3, 000 from customers on account. Feb. 15 Reacquired 3,000 shares of $1 par common stock into treasury for $33,000 cash. Mar. 15 Reissued 2,000 shares of treasury stock for $24,000 cash. Aug. 15 Reissued 600 shares of treasury stock for $4,600 cash. Sept. 15 Declared (but did not yet pay) a 1 cash dividend on each outstanding share of common stock. Oct. Issued 100, 10-year, $1,000 bonds, at a quoted bond price of 101 Oct 3 Wrote off a $2,000 balance due from a customer who went bankrupt Dec. 29 Recorded $230,000 of service revenue, all of which was collected in cash. Dec. 30 Paid $200,000 cash for this year's wages through December 31. Ignore payroll taxes and payroll deductions. Dec. 31 Calculated $10,000 of depreciation for the year to be recorded. (Ignore accrual adjustments for interest and income taxes.)