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help me out please! Required information P5-1 (Algo) Preparing a Balance Sheet and Analyzing Some of its Parts LO5-3 [The following information applies to the

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Required information P5-1 (Algo) Preparing a Balance Sheet and Analyzing Some of its Parts LO5-3 [The following information applies to the questions displayed below] Exquisite Jewelers is developing its annual financial statements for the current year. The following amounts were correct at December 31, current year: cash, $66,550; accounts recelvable, $80,500; merchandise inventory, $173,000; prepaid Insurance, $2,450; investment in stock of Z Corporation (long-term), $45,500; store equipment, $86,000; used store equipment held for disposal, $12,800; accumulated depreciation, store equipment, $20,900; accounts payable, $62,000; long-term note payable, $51,500; income taxes payable, $18,500; retained earnings, $183,000; and common stock, 119,000 shares outstanding, par value $1.00 per share (originally sold and issued at $1.10 per share). Required: 1. Based on these data, prepare a December 31, current year, balance sheet. Note: Amounts to be deducted should be indicated by a minus sign

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