MOON CORPORATION BALANCE SHEET JULY 31, 2011 Liabilities & Owners' Equity Assets Cash... 18,000 Liabilities: Accounts Receivable 26,000 Notes Payable Land... 37,200 (due in 60 days).. $ 12,400 Building... 38,000 Accounts Payable. Office Equipment 1,200 Total liabilities 9,600 $ 22,000 Stockholders' equity: Capital Stock..... Retained Earnings... $60,000 38,400 98,400 Total.. $120,400 Total. $120,400 Assets STAR CORPORATION BALANCE SHEET JULY 31, 2011 Liabilities & Owners' Equity Cash...... $ 4,800 Liabilities: Accounts Receivable 9,600 Notes Payable Land.. 96,000 (due in 60 days). Building.. 60,000 Accounts Payable Office Equipment 12,000 Total liabilities $ 22,400 43,200 $ 65,600 Stockholders' equity: Capital Stock... $72,000 Retained Earnings. 44,800 116,800 Total $182,400 Total $182,400