P5-3 Preparing a Balance Sheet and Analyzing Some of its Parts LO5-3 Exquisite Jewelers is developing its annual financial statements for 2015. The following amounts were correct at December 31 2015 cash, $58,000; accounts receivable, $71,000; merchandise inventory, $154,000; prepaid insurance, $1,500; $36,000; store equipment, $67,000; used store equipment held for disposa $9,000 nvestment in stock of Z corporation ong-term accumulated depreciation, store equipment, $19,000; accounts payable, $52,500; long-term note payable, 2,000; income taxes payable, $9,000; retained earnings, $1 and common stock, 100,000 shares outstanding, par value $1.00 per share (originally sold and issued at $1.10 per share) Required: 1 Based on these data, prepare a December 31, 2015, balance sheet (Amounts to be deducted should be indicated by a minus sign.) Possible input areas are shaded. EXQUISITE JEWELERS Balance Sheet December 31, 2015 Assets Current assets