SnowBucks was started by Jon on January,1st 2015. Initial capital was acquired by issuing shares of common stock to various investors and by obtaining a bank note. Jon is now considering opening a second store on the other side of the town. The funds necessary for expansion will come from an initial public offering (IPO). The IPO requires Snowbucks to prepare financial statements. Jon asks for your help in preparing the balance sheet and presents you with the balance of the following account on December 31, 2015: The bank note ($118,000) was made on March 31,2015. The note required payment of interest and principal on March 31,2016. The interest rate is 10%. Rent on the store building is $3,000 per month. On December 1, 2015, four months' rent was paid in advance. Prepare a balance sheet with appropriate heading at December 31, 2015