On May 1, Kingbird, Inc., a company that provides flying lessons, was started by using common stock in exchange for cash of $45,450. Following are the assets and liabilities of the company on May 31, 2022, and the revenues and expenses for the month of May Cash Accounts Receivable Equipment Service Revenue Advertising Expense Accounts Payable $ 5,100 7,850 64,450 7,250 950 1,850 Notes Payable Rent Expense Maintenance and Repairs Expense Gasoline Expense Utilities Expense $28,000 1,150 600 2,250 150 No additional investments were made in May, but the company paid dividends of $50 during the month. Prepare a balance sheet at May 31. (List Assets in order of liquidity.) Kingbird, Inc. Balance Sheet For the Month Ended May 31, 2022 Assets $ Liabilities and Stockholders' Equity $ e Textbook and Media