Required information Part 3 of 3 3.57 points [The following information applies to the questions displayed below) Assume that you are the president of Highlight Construction Company. At the end of the first year of operations (December 31), the following financial data for the company are available: Cash $25,100 Receivables from customers (all considered collectible) 12,200 Skipped Inventory of merchandise (based on physical count and priced at cost) 82,000 Equipment owned, at cost less used portion 41,500 Accounts payable owed to suppliers: Salary payable (on December 31, this was owed to an employee who will be paid on January 10)) Total sales revenue 47,340 2,000 126,000 ellook Expenses, including the cost of the merchandise sold (excluding income taxes) Income tax expense at 30% x pretax income; all paid during the current year Common stock (December 31) 84,200 92,300 10,100 References Dividends declared and paid during the current year (Note: The beginning balances in Common stock and Retained earnings are zero because it is the first year of operations.) 3. Prepare a balance sheet at December 31. 3.57 Spe # 3. Prepare a balance sheet at December 31 HIGHLIGHT CONSTRUCTION COMPANY Balance Sheet $ 0