Sadie Hawkins owns The Education Supply Center, a small store that sells educational supplies. Hawkins recently approached the local bank for a loan to finance a planned expansion of her store. Hawkins prepared the balance sheet shown below and submitted it to one of the bank's loan officers in support of her loan application. The Education Supply Center Balance Sheet December 31, 20x1 Assets Cash Accounts Receivable. Inventory Equipment (cost) Personal Residence Supplies Family Auto Total Assets Liabilities and Owner's Equity Accounts Payable Note Payable on Family Car Mortgage on House $ 15,300 15,100. 39,100 25,500 189,000 1,970 21,000 $306,970 $ 15,550 11,100 93,000 187,320 Sadie Hawkins, Capital Total Liabilities and Owner's Equity $306,970 The following additional information was made available by Hawkins: a. The inventory has an original cost of $31,000. It is listed on the balance sheet at the estimated selling price. b. The cash listed on the balance sheet includes $2,750 in Sadie Hawkins' personal account. The remainder of the cash is in the store's account. c. The store recently purchased a delivery truck for $29,500, financed through a bank loan. The bank has legal title to the truck. To date, the store has paid $9,100 on the loan. Of the remaining $20,400 liability, $8,700 is current and the remainder long-term. Hawkins did not include the truck or the liability on the balance sheet because neither she nor the business owns it. d. Depreciation allowable to date is $5,100 on the equipment and $3,100 on the truck. Required: