Prepare the balance sheet for Usher Inc. as of December 31, 2020. Use the following information. All information pertains to fiscal 2005 unless otherwise stated. - Retained earnings at December 31,2019 is $234,000 - Sales (all credit sales) are $2.5 million - Days to sell inventory is 20 - Cash on hand is 1% of sales - All sales are paid 30 days after purchase - Noncurrent assets are $1 million - Long-term debt to equity ratio is 1 - All liabilities, other than long-term debt, are short-term liabilities - 20,000 shares outstanding issued at $10 in 2019 - No dividends are paid - Gross margin is 40% - Net profit margin is 8% - Assume there are 360 days in the year