Date Ed Alexa Markowitz is a reator. She bars and sells properties on her own, and she also comes an agent for buyers and sellers. She organized her business as a corporation on March 16, 2014. The business received $60,000 cash from Markowitz and issued common shares in Comide the following facts as of March 31, 2014 a) Markowite has $5,000 in her personal bank account and $14,000 in the liness banko b) Office supplies on land at the real estate office total $1,000 c) Markowite's business spent $25,000 for a ReMix franchise, which entitled her to represent herself as an ant. ReMAX is a sinal flution of independent real estate d) This fruchise is a business .) The business owes $60,000 ce a note payable for some undeveloped and equired for at price of $110,000 1) Markowitz owes $100.000 on a personal mert on her personal edence, which sheid in 2005 for a total price of $350,000 Markowite owe $1,800 on a personal charge account with Holt Renfrew h) Markowite acquired business fumiture for $10,000 on March 25. of this amount, the business owes $6,000 on accounts payable at March 31 Requirements 1. Prepare the balance sheet of the real estate business of Aleca Markowite Realtor Inc. at March 31, 2014 2. Does it appear that the realty business can pay its debts? How can you tell? 3. Explain why some of the items given in the preceding facts were not reported on the balance sheet of the business Date Ed Alexa Markowitz is a reator. She bars and sells properties on her own, and she also comes an agent for buyers and sellers. She organized her business as a corporation on March 16, 2014. The business received $60,000 cash from Markowitz and issued common shares in Comide the following facts as of March 31, 2014 a) Markowite has $5,000 in her personal bank account and $14,000 in the liness banko b) Office supplies on land at the real estate office total $1,000 c) Markowite's business spent $25,000 for a ReMix franchise, which entitled her to represent herself as an ant. ReMAX is a sinal flution of independent real estate d) This fruchise is a business .) The business owes $60,000 ce a note payable for some undeveloped and equired for at price of $110,000 1) Markowitz owes $100.000 on a personal mert on her personal edence, which sheid in 2005 for a total price of $350,000 Markowite owe $1,800 on a personal charge account with Holt Renfrew h) Markowite acquired business fumiture for $10,000 on March 25. of this amount, the business owes $6,000 on accounts payable at March 31 Requirements 1. Prepare the balance sheet of the real estate business of Aleca Markowite Realtor Inc. at March 31, 2014 2. Does it appear that the realty business can pay its debts? How can you tell? 3. Explain why some of the items given in the preceding facts were not reported on the balance sheet of the business