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 following additional information was made available by Hawkins: a. The inventory has an original cost of $32,800. It is listed on the balance sheet at the estimated selling price. b. The cash listed on the balance sheet includes $3,650 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 $38,500, financed through a bank loan. The bank has legal title to the truck. To date, the store has paid $10,900 on the loan. Of the remaining $27,600 liability, $10,500 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 $6,900 on the equipment and $4,900 on the truck. Required: 2. Prepare a corrected balance sheet in accordance with generally accepted accounting principles. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{1}{l|}{ Lotal assets } & & $ \\ \cline { 1 - 4 } & & & \\ \hline Current liabilities & & & \\ \hline & & & \\ \hline \hline & & & \\ \hline Total current liabilities & & & \\ \hline Long-term liabilities & & & \\ \hline & & & \\ \hline Total liabilities & & & \\ \hline Owner's equity & & & \\ \hline & & & \\ \hline & & & \\ \hline Total liabilities and owner's equity & & & $ \\ \hline \end{tabular}