Jacobson Corporations balance sheet at March 30, 2022, contained only the following items (appended below in random order): $ $ Cash 14,000 Accounts payable 8,000 Notes payable 10,000 Furniture & fixtures 3,000 Inventories 40,000 Long-term debt 12,000 Additional Paid-in Capital 80,000 Building 24,000 Land 14,000 Machinery & equipment 15,000 On March 31, 2022, these transactions and events took place: 1. Purchased merchandise on account, $3,000 2. Sold at cost for $1,000 cash some furniture that was not needed 3. Issued additional capital stock for machinery and equipment valued at $12,000 4. Purchased land for $25,000, of which $10,000 was paid in cash, the remaining being represented by a 5-year note (long-term debt) 5. The building was valued by professional appraisers at $43,000 Prepare in good and proper form a balance sheet for March 31, 2022, showing supporting computations for all new amounts. Guidelines to students: a. A vertical balance sheet presentation is the right form, please refer to sample balance sheet of Chipotle Mexican Grill, Inc. we discussed in the class. b. No journal entries are required. c. You are required to show your computations for account balance movements of the following: i. Cash: $14,000 ii. Inventories: iii. Furniture & fixtures: iv. Machinery & equipment: v. Land: vi. Accounts payable: vii. Long-term debt: viii. Additional Paid-in Capital: d. Building above was a self-use property, NOT a rental property