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The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31, 2014. GERONIMO COMPANY BALANCE SHEET AS OF JULY 31, 2014

The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31, 2014.

GERONIMO COMPANY BALANCE SHEET AS OF JULY 31, 2014
Cash $ 69,000 Notes and accounts payable $ 44,000
Accounts receivable (net) 40,500 Long-term liabilities 75,000
Inventory 60,000 Stockholders

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