Requirements: Create a balance sheet with the following account balances:

• Cash: $38,000
• Accounts Receivable: $30,000
• Inventory: $32,000
• Equipment: $80,000
• Accumulated Depreciation: $20,000
• Accounts Payable: $24,000
• Notes Payable: $10,000
• Common Stock: $50,000
• Retained Earnings: $42,000