HARLAND FAMILY DENTISTRY Balance Sheet January 1, 20 Assets Liabilities & Stockholders' Equity Cash $ 16,500 Liabilities: Accounts receivable 25,575 Accounts payable $ 37,125 Land 156,750 Total liabilities $ 37,125 Building 185,625 Owners' equity: Equipment 28,875 Capital stock 376,200 Total liabilities and Total assets $413,325 owners' equity $413,325 During the first few days of January, the following transactions occurred: Jan 1 The business borrowed $49,500 from the bank, giving a note payable due in 90 days. 3 Additional capital stock was issued in exchange for $22,275 cash. 3 Equipment was purchased for $31,350 on credit. 5 The business collected $13,200 of its accounts receivable and paid off $18,975 of its accounts payable. Indicate your answer to each of the following questions in the space provided. 1 On January 6, total assets of the business amount to:. 2 On January 6, owners' equity amounts to: 3 On January 6, the liability for accounts payable is: 4 On January 6, accounts receivable amount to: 5 On January 6, the amount of cash owned by the business is