North American Reserve Rare Coins (NARRC) was formed on January 1, 2018. Additional data for the year follow: (Click the icon to view the transactions.) Read the requirements. Net Income i More Info Requirement 2. Prepare NARRC's balance sheet at December 31, 2018. North American Reserve Rare Coins a. On January 1, 2018, NARRC issued no par common stock for $550,000 Balance Sheet b. Early in January, NARRC made the following cash payments: For store fixtures, $45,000 For merchandise inventory, $240,000 1 December 31, 2018 2 Assets Liabilities For rent expense on a store building, $21,000 Current Liabilities Current Assets: S245,000. Before year-end, NARRC paid $165,0000 of this accounts payable d. During 2018, NARRC sold 2,000 units of merchandise inventory for $250 each Before year-end, the company collected 80% of thiss amount. Cost of goods sold for the year was $240,000, and ending merchandise inventory totaled $245,000. Total Current Liabilities pioys inree people. The combined annual payroll is $82.000, of which AR Total Current Assets Stockholders' Equity f. At the end of the year, NARRC paid income tax of $23,000. There are no income taxes payable. Property, Plant, and Equipment q. Late in 2018, NARRC paid cash dividends f S39.000 h. For store fixtures, NARRC uses the straight-line depreciation method, over five years, with zero residual value. Total Stockholders' Equity Print Done Total Liabilities and Stockholders' Equity Total Assets Choose from any list or enter any number in the input fields and then click Check