Question 1: {13 marks! At December 29, 2015, the balance sheet accounts for McCord Restaurant Ltd. were as follows: Accounts payable $ 10,000 Furniture $ 105,000 Accounts receivable $ 20,000 Inventory $ 15,000 Building $ 100,000 Land $ 200,000 Cash $ 30,000 Notes payable $ 145,000 Common shares $ ? Retained earnings $ 75,000 The following transactions occurred during the next two days: 0 Shareholders invested an additional $35,000 cash in the business. 0 The company paid $5,000 of accounts payable. (No payment was made on the notes payable.) Assume that $15,000 of the notes payable will be paid in 2016. Required: Prepare a classied balance sheet (statement of nancial position) at December 31, 2015 in good form. There is additional space provided on the next page