Part 3 of 3 10 guines 10 m Required information [The following information applies to the questions displayed below] Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31, the following financial data for the company are available: Cash Receivables from customers (all considered collectible) $ 24,700 12,300 Accounts payable owed to suppliers Inventory of merchandise (based on physical count and priced at cost) Equipment owned, at cost less used portion 75,000 42,100 47,448 Salary payable (on December 31, this was owed to an employee who will be paid on January 10) 2,400 Total sales revenue 110,000 Expenses, including the cost of the merchandise sold (excluding income taxes) 06,200 Income tax expense at 30% pretax income; all paid during the current year Common stock (December 31) 94,100 10,700 Dividends declared and paid during the current year (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.) 3. Prepare a balance sheet at December 31 HIGHLIGHT CONSTRUCTION COMPANY Balance Sheet