Question 1: Prepare a balance sheet and income statement for Builtrite Corporation, what is the value for Total Liabilities and Stockholder's Equity?

Inventory $8000

Common stock 50,000

Cash 5000

General & admin expenses 3000

Accrued expenses 4000

Notes payable 3000

Interest expense 1000

Depreciation expense 2000

Net sales 15,000

Accounts receivable 7000

Accounts payable 2000

Long-term debt 60,000

Cost of goods sold 5,000

Buildings and equipment 150,000

Taxes 1000

Accumulated depreciation 30,000

Common Stock dividends paid 2000

Retained earnings ?

Group of answer choices

$132,000

$136,000

$140,000

$144,000