GASLIGHT COMPANY Balance Sheet At December 31,2011 Assets Cash $ 24,500 Inventory of merchandise 81,000 Equipment 40,700 Receivables from customer 10,800 Total Assets 157000 Liabilities Accounts payable 46,140 Salary payable 1,800 Total Liabilities 47940 Stockholders' Equity Contributed capital 87,000 Retained earnings 22060 Total Stockholders* Equity 109060 Total Liabilities and Stockholders' Equity $181940