Prepare a balance sheet at May 31. (List Assets in order of liquidity.) Sunland Company Balance Sheet Cash Accounts Receivable Equipment Assets Total Assets Liabilities and Stockholders' Equity Save for Later Liabilities and Stockholders' Equity Attempts: 0 of 5 used Submit Answer On May 1, Sunland Company, a company that provides flying lessons, was started by using common stock in exchange for cash of $45,350. Following are the assets and liabilities of the company on May 31, 2022, and the revenues and expenses for the month of May. Cash $5,000 Notes Payable $28,000 Accounts Receivable 7,750 Rent Expense 1,200 Equipment 64,350 Maintenance and Repairs Expense 650 Service Revenue 7,150 Gasoline Expense 2,200 Advertising Expense 850 Utilities Expense 100 Accounts Payable 1,750