Use the following information to prepare XYZ Corporation's balance sheet as of December 31, 20X4:

• Cash: $50,000
• Accounts Receivable: $30,000
• Inventory: $20,000
• Property, Plant, and Equipment: $200,000
• Accounts Payable: $40,000
• Long-Term Debt: $100,000
• Common Stock: $50,000
• Retained Earnings: $110,000

Ensure the balance sheet follows the proper accounting equation.