How to find the solve the equity section

a. Complete the December 31, 2014, balance sheet. (Hint: Long-ferm debt is the last number to compute to make the balance sheet balance) HOEMAN, INC. Comparative Balance Sheets At December 31, 2014 and 2013 2014 2013 Assets: Current assets: Cash Accounts receivable Inventory S 54,500 48,000 147,500 186,000 381,500 148,500 284,000 (127,000) (111,000) 321,500 $ 788,000 703,000 136,000 166,000 356,500 148,500 410,000 Total current assets Land Buildings Less: Accumulated depreciation Total land & buildings Total assets Liabilities: Current liabilities: Accounts payable Note payable 431,500 172,500 S 194,500 25,000 319,500 153,000 158,000 Total current liabilities Long-term debt Stockholders' Equity Common stock Retained earnings 330,500 50,000 5,500 85,000 230,500 703,000 Total stockholders' equity Total liabilities and stockholders' equity 788,000