Please explain the following Balance Sheet as you were presenting.

Balance Sheet For the Year Ending Dec. 31 2023 Current Assets Cash Accounts Receivable Inventory Pre-Paid Expenses Total Current Assets Equipment Gross Fixed Assets Less Accumulated Depreciation Net Fixed Assets Total Assets LIABILITIES AND OWNERS EQUITY Liabilities Current Liabilities Accounts Payable Accrued Payables Total Current Liabilities Long Term Liabilities Mortgage Payable Total Liabilities Owner's Equity Total Liabilities and Owner's Equity $7,054.00 $60,484.00 $80,042.00 $1,046.00 $148,626.00 $100,500.00 $40,950.00 $141,450.00 $16,900.00 $124,550.00 $273,176.00 $51,343.00 $3,060.00 $54,408.00 $20,708.00 $75,116.00 $198,060.00