Near the end of 2015, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2015.

Question 6

The following information applies to the questions displayed below.] Near the end of 2015, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2015 DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2015 Assets Cash Accounts receivable Inventory $ 36,000 525,000 150,000 711,000 otal current assets Equipment Less: accumulated depreciation $540,000 67,500 Equipment, net 472,500 Total assets $ 1,183,500 Liabilities and Equity Accounts payable Bank loan payable Taxes payable (due 3/15/2016) $360,0000 15,000 90,000 $ 465,000 lotal Tliabilities Common stock Retained earnings 472,500 246,000 Total stockholders' equity 718,500 Total liabilities and equity $ 1,183,500