Exercise 1-14 a-b (Part Level Submission)

Monty Corp., a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2020.

Revenues during 2020camping fees		$170,800		Notes payable		$73,200
Revenues during 2020general store		57,340		Expenses during 2020		183,000
Accounts payable		13,420		Supplies on hand		3,050
Cash on hand		24,400		Common stock		24,400
Original cost of equipment		128,710		Retained earnings		?
Fair value of equipment		170,800

Net income: $45,140

Prepare a balance sheet for Monty Corp. as of December 31, 2020. (List Assets in order of liquidity.)