DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2019 Assets Cash $ 36,000 Accounts receivable 520,000 Inventory 157,500 Total current assets $ 713,500 Equipment 552,000 Less: Accumulated depreciation 69,000 Equipment, net 483,000 Total assets $1,196,500 Liabilities and Equity Accounts payable $365,000 Bank loan payable 12,000 Taxes payable (due 3/15/2020) 88,000 Total liabilities $ 465,000 Common stock 473,500 Retained earnings 258,000 Total stockholders' equity 731,500 Total liabilities and equity $1,196,500