O S1-5 (book/static) Michael McNance is the proprietor of a property management company Apartment Exchange, near the compus of Pracol State College. The business cash 1,000 and future that out 0.000 and smartello 13.000. The business debts include counts payable of 8,000. Michael's personal home is weed at $100.000, and his personal bank account has beence 1,200 ly the principle or anumite meses Michael's personale we all recorded on the Apartment Exchange's balance sheet The Apartment Exchange recorda tuture at a cost of 50,000, not to mare value of $13.000 The Apartment Exchange reports its francia telemarts in US doo Michael expects the Apartment change to remain in operations for the forestiere . Michaels personal assets are not recorded on the company's balance sheet