1. The following is a list of assets and claims of a software development company at a particular point in time:
   • Short-term borrowings: $25,000
   • Property: $275,000
   • Inventories of raw materials: $18,000
   • Trade payables: $22,000
   • Plant and equipment: $150,000
   • Loan from Software Finance Co. (long-term borrowing): $110,000
   • Inventories of finished goods: $27,000
   • Delivery vans: $55,000
   • Trade receivables: $45,000

Required:

Prepare a balance sheet incorporating these figures. (Hint: There is a missing item that needs to be deduced and inserted.)