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Requlred Information P5-1 (Algo) Prepering a Balance Sheet and Analyzing Some of lts Parts LO5-3 [The following information applies to the questions displayed below] Exquisite Jewelers is developing its annual financial statements for the current year. The following amounts were correct at December 31, current year, cash, $66,100 : accounts receivable, $80,000; merchandise inventory, $172,000 : prepaid insurance, $2,400; investment in stock of Z Corporation (long-term), $45,000 : store equipment, $85,000; used store equipment heId for disposal, $12,600; accumulated depreciation, store equipment, $20,800; accounts payable, $61,500; long-term note payable, $51,000 : income taxes payable, $18,000 : retained earning5. $182,000; and common stock. 118.000 shares outstanding, par value $1.00 per share (originally sold and issued at $1.10 per share) P5-1 Part 1 Requlred: 1. Based on these data, prepare a December 31, current year, balance sheet. Note: Amounts to be deducted should be Indlcated by o minus sign. 1. Bssed on these data, prepare a December 31, current year, balance-sheet. Note: Amounts to be deducted should be Indlceted by a mlnus slgn