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Redbird Properties, Inc. gathered the following information regarding the asset, liability, stockholders equity, revenue, and expense accounts as of the end of its second year

Redbird Properties, Inc. gathered the following information regarding the asset, liability, stockholders’ equity, revenue, and expense accounts as of the end of its second year in operations, December 31, 2019:

Rent Expense

$7,000

Building

36,320

Depreciation Expense

4,750

Cost of Goods Sold

10,000

Accounts Receivable

8,200

Note Payable (5 yr)

11,000

Common Stock

16,970

Cash

19,500

Salary Expense

4,400

Dividends

10,200

Retained Earnings, Jan 1 2015

17,085

Accounts Payable

11,800

Accumulated Depreciation (Building)

6,500

Income Tax Expense

6,585

Sales

48,800

Prepaid Rent

2,500

Inventory

2,000

Interest Expense

700

Prepare, in good form, the heading and Asset section only of the classified Balance Sheet for Redbird Properties, Inc. for 2019. You will prepare the Liabilities & Stockholders' Equity section in the next question. (You can receive partial credit.)

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