RLX Corporation is opened operated on January 1, 2010 engages in selling computers. At the end of the year, the following balances were reported:

Bank Loans (payable in 5 years)- Php450,000

Undeposited cash - Php630,000

Collectibles from customers (short-term) - Php250,000

Retained earnings - Php755,000

Unsold items to customers- Php 800,000

Advance payment of rent (6months)- Php60,000

Net Income-Php200,000

Common Stocks - Php1,200,000

Deposited cash- Php750,000

Office Supplies (unused) - Php15,000

Tables and chairs - Php40,000

Acquired 3 computers for office use - Php60,000

REQUIRED:

a) Prepare the balance sheet as of December 31, 2010.

b) Compute for the total current assets as of December 31, 2010.

c) Calculate the net working Capital at the end of the year.

d) Solve for the total equity as of December 31, 2010.