Prepare Balance Sheet and statement of owner equity for North Sea Co. for the year ended on December 31, 2017 (note you don't have to use all the information) Cash 45,000 Unearned Revenue 275,000 Prepaid insurance Sales Account receivable 35,500 TV advertising Long term loan Owner's drawing 45000 Depreciation expenses - showroom 2,500 Accumulated depreciation - Showroom Utility expense for showroom 11,500 Account payable Accumulated depreciation - Truck 7,800 Showroom Merchandise inventory on January 1, 2017 6,900 Truck 150,000 Sales return Owner's investment Retain earning Merchandise inventory on December 31, 2017 Proportion of bank loan due this years *Net income for the year $55,000 **Balance sheet does not balance 25,000 Interest payable 25,300 Interest expense 5,000 Tax payable due in 2020 5,600 13,700 12,500 6,000 18,000 73,000 88,000 70,750 18,000 7,500 11,600 15,000