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Help Sa A partially completed balance sheet for Blue Co. Inc. as of October 31, 2019, is presented. Where amounts are shown for various items,

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Help Sa A partially completed balance sheet for Blue Co. Inc. as of October 31, 2019, is presented. Where amounts are shown for various items, the amounts are correct. 04 Required: Using the following dato, complete the balance sheet. a. Blue Co.'s records show that current and former customers owe the firm a total of $20,000; $3,000 of this amount has been due for more than a year from two customers who are now bankrupt b. The automobile, which is still being used in the business, cost $90,000 new; a used car dealer's Blue Book shows that it is now worth $50,000. Management estimates that the car has been used for one-third of its total potential use. (The car is being depreciated using the straight-line method.) c. The land cost Blue Co. $55,000, it was recently assessed for real estate tax purposes at a value of $75,000. d. Blue Co.'s president isn't sure of the amount of the note payable, but he does know that he signed a note. e. Since Blue Co. was formed, net income has totaled $165,000, and dividends to stockholders have totaled $97.500. {Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets Cash Account ronivable Cand Automobile Les Accumulated depreciation BLUE CO. INC Balance Sheet October 31, 2019 Liabilities and Stockholders' Equity $ 3,500 Note payable Accounts payable Total liabilities 16,000 40,000 Stockholders' Equity Common stock Retained earings Total stockholders' equity Total liabilities and stockholders' equity Total sets

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