REQUIRED: MAKE A BALANCE SHEET

The following accounts are from the Athletics Store worksheet dated March 31 of the current year: Cash $ 8,250 Accounts Receivable 21,400 Merchandise Inventory 48,700 Store Supplies 3,106 Prepaid Insurance 2,380 Store Equipment 29,400 Accumulated Depreciation, Store Equipment 8,630 Accounts Payable 16,350 T. Phelps, Capital 157,900 T. Phelps, Drawing 32,570 Sales 203,842 Sales Returns and Allowances 1,770 Purchases 146,910 Purchases Returns and Allowances 3,527 Purchase Discounts 2,615 Freight In 6,947 Wages Expense 28.400 Advertising Expense 3,219 Rent Expense 19,200 The data needed for adjustments on March 31 are as follows: a-b. Merchandise Inventory, March 31, $46,250. c. Insurance expired for the year, $1,580. d. Depreciation for the year, $4,230. e. Accrued wages on January 31, $2,513. f. Supplies used during the year $950