Prepare a balance sheet.

Please show all calculations so I know how to do it

Required information Assume Down, Inc., was organized on May 1 to compete with Despair, Inc.--a company that sells de- motivational posters and office products. Down, Inc., encountered the following events during its first month of operations. a. Received $41,000 cash from the investors who organized Down, Inc. b. Borrowed $20,000 cash and signed a note due in two years. c. Ordered equipment costing $23,000. d. Purchased $11,000 in equipment, paying $3,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (c), paid for half of it, and put the rest on account DOWN.INC Balance Sheet At May 31 Assets Liabilities "Current Assets Cash Current Liabilities Notes Payable (short-term) Accounts Payable Total Current Assets 0 0 Total Current Liabilities Notes Payable (long-term) Equipment 0 Total Liabilities Stockholders' Equity Common Stock Retained Earnings + Total Stockholders' Equity ofTotal Liabilities and Stockholders' Equity Total Assets 0 $ 0