Please answer the following Accounting questions showing all work and steps needed to complete it.

5. Balance Sheet Stephen decides to start his own business and makes the following transactions 1. 2. 3. 4. Contribute $200 in cash as initial capital Borrows $700 from his dad Buys machine worth $700 on cash Buys some raw materials on credit worth $500 What side(s) of the balance sheet does each event affect? Remember Assets Liabilities + Shareholders' Equity. To help you get started, I have answered the first one for you. Transaction Assets $200 cash Liabilities Equity S200 owners claim (equit 4 6. Balance Sheet At the end of the fiscal year, Wolverine, Inc. had the following balances in its asset, liabilities, nd stockholders' equity accounts Accounts payable: $60,000 Accounts receivable: $90.000 Capital stock: $100,000 Cash: $40,000 Land: $80,000 Building: S50,000 Equipment: $30,000 . Notes payable: $20,000 Instructions: 1. 2. Group these accounts into Assets, Liabilities, and Equity Now sum all of these groups. If this were a balance sheet, would it balance? Remember, Assets Liabilities+Stockholders' Equity 3. What would be the value of retained earnings to get Assets to equal Liabilities-+ Stockholders Equity