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Assume David Inc. ended the month of July 2020 with the following data. i (Click the icon to view the financial data.) i Financial data Requirement Prepare the balance sheet of the company at July 31, 2020. Payments of cash. Prepare the balance sheet. Begin with the heading of the statement. Next, complete the balance sheet. Acquisition of equipment $ 32,000 Cash receipts: David Inc. Dividends 1,800 Issuance (sale) of shares to owners $ 31,360 Balance Sheet Retained earnings at July 1, 2020 .. .. . 0 Rent expense. . ... . .. 710 For the Year Ended July 31, 2020 Retained earnings of July 31, 2020 5,540 Common shares 31,360 Assets Liabilities Utilities expense . 200 Equipment . . . 32,000 Cash Adjustments to reconcile net income Office supplies expense. 1,150 Shareholders' Equity to cash provided by operations 3,200 Accounts payable. . .. . 3,200 Salary expense. 4,200 Service revenue. 13,600 Cash balance July 1, 2020. 0 Total shareholders' equity Cash balance July 31, 2020 8,100 Total assets Total liabilities and shareholders' equity Print Done Choose from any list or enter any number in the input fields and then continue to the next question. MacBook Air