Required information [The following information applies to the questions displayed below.] As of December 31 of the current year, Armani Company's records show the following. Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, December 31, prior year Retained earnings, December 31, current year Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $ 10,000 9,000 7,000 4,000 11,000 14,000 3,000 5,000 13,000 33,000 22,000 20,000 12,000 8,000 Required: Prepare the current year-end balance sheet for Armani Company. Cash Accounts receivable Supplies Total assets ARMANI COMPANY Balance Sheet December 31 Assets Liabilities $ 10,000 Accounts payable 9,000 $ 11,000 7,000 Total liabilities 11,000 Equity Common stock 14,000 Retained earnings Total equity 5,000 19000 $ 26,000 Total liabilities and equity $ 30,000