• Prepare a balance sheet for ABC Inc. as of December 31, 2023.
• Use the following data:
  • Cash: $50,000
  • Accounts Receivable: $30,000
  • Inventory: $40,000
  • Property, Plant, and Equipment: $150,000
  • Accounts Payable: $20,000
  • Notes Payable: $50,000
  • Common Stock: $100,000
  • Retained Earnings: $100,000

Question:

Using the given data, prepare the balance sheet for ABC Inc. as of December 31, 2023. Ensure that the total assets equal the total liabilities and equity.