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Use the following information to complete the December 31, 2014 balance sheet of Copper Supplies Company (1) Owners' equity as of January 1, 2014, totaled

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Use the following information to complete the December 31, 2014 balance sheet of Copper Supplies Company (1) Owners' equity as of January 1, 2014, totaled $175,000, which included capital stock of $150,000. (2) Additional capital stock was issued during 2014 in exchange for $40,000 cash. (3) Net income for 2014 amounted to $200,000; no dividends were paid during 2014 (4) Cash and accounts receivable together amount to 3 times as much as accounts payable. Copper Supplies Company Balance Sheet December 31. 2017 S 30.000 Cash Accounts receivable Equipment Building Land 300.000 215.000 Liabilities & Owners' Equity Liabilities Accounts payable S 40.000 Notes pavable Total liabilitics Owners equity Capital stock S Retamed camings Total liabilities and owners equita S S Total assets 5835.000 CS " 7 % EEEE 2:00 PM FNG

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