John Tate is the bookkeeper for Gabelli Company. John has been trying to get the balance sheet of Gabelli Company to balance. It finally balanced, but now he's not sure it is correct.

GABELLI COMPANY

Balance Sheet

December 31, 2017

Assets

Liabilities and Stockholders' Equity

Cash

$12,500

Accounts payable

$18,000

Supplies

9,500

Accounts receivable

(12,000)

Equipment	50,000		Common stock	40,000
Dividends	13,000		Retained earnings	39,000

Total assets

$85,000

Total liabilities and

stockholders' equity

$85,000

Instructions Prepare a correct balance sheet. It is okay to abbreviate a little bit as long as I can figure out what account you are referring to. Just list things out with the account on the left and the dollar amount on the right. Show totals and subtotals so I can tell that you know how to do a balance sheet eventhough you don't have columns to use. On your subtotals and totals label what those represent. If numbers don't line up real even don't worry about it.