1. In early December, you open cooks Cafe with $15,000 of your own money and $20,000 borrowed from a friend. You've spent $12,000 on equipment and furniture, and you've purchased $3,000 worth of inventory. Having put down a $2,500 security deposit for a location on Main Street, you'll pay the first months rent when you open your doors on January 1st. Using the items in question 1, create a balance sheet showing the financial position of cooks Cafe as of December 31st.

cooks Cafe Balance Sheet As of December 31, 20xx
Assets	Liabilities & Owner's Equity
Asset Account	Value	Liability Account	Value
		Total Liabilities
		Equity Account	Value
Total Assets	$35,000	Total Owner's Equity
	Total Liabilities & Owner's Equity	$35,000