Skymaster Airplane Rentals Company started operations in 2019 when owners invested $150,000; company records show the following information at the end of that year. During 2019, the owner was paid dividends of $52,000.

Rent expense	$2,000		Advertising expense	$22,000
Airplanes	174,000		Cash	11,000
Notes payable	83,000		Office Furniture	15,000
Hangar	60,000		Maintenance expense	39,000
Wage expense	75,000		Revenues	217,000

Required:

1. On your own paper (or in Word or Excel), prepare a balance sheet for the company at December 31, 2019 and briefly describe what the statement indicates about the companys financial position.
2. Upload a picture of your paper (or a file if using Word or Excel).