The Spartan Inn, a sole proprietorship, has several accounts as follows: $1,000,000 80,000 5,000 20,000 15,000 80,000 Room sales Land Cash Accounts payable Inventories Accounts receivable

The Spartan Inn, a sole proprietorship, has several accounts as follows: Room sales $1,000,000 Land 80,000 Cash 5,000 Accounts payable 20,000 Inventories 15,000 Accounts receivable 80,000 Bonds payable (long-term) 300,000 Jerry Spartan, Capital (1/1/20X4) 300,000 Accrued expenses 10,000 Prepaid expenses 8,000 Temporary investments 25,000 Building 500,000 Equipment and furnishings 200,000 Franchise fees (deferred) 15,000 Accumulated depreciation 150,000 Income tax payable 10,000 Deferred income taxes (noncurrent/ credit balance) 20,000 Interest expense 25,000 Other information is as follows: The Spartan Inn's net income for 20x4 was $145,000, and Jerry Spartan withdrew $27.000 for personal use during 20X4. Required: Prepare a balance sheet for the Spartan Inn as of December 31, 20X4, in accordance with the USALI (see Exhibit 5)