Use the format of Exhibit 1 -2 (p. 12) to anal) /c the following transactions for April of Marymount Services. Inc. Then prepare a balance sheet as of April 30, 20X1. Mary mount Services was founded on April 1. Issued 1.000 shares of common stock for cash. $60,000; use a single Paid-in-Capital account Issued 500 shares of common stock for equipment. $20,000 Borrowed cash, signing a note payable for $35,000 Purchased equipment for cash. $33,000 Purchased office furniture on account. $10,000 Disbursed cash on account (to reduce the account payable). $4,000 Sold equipment for cash, $8,000, an amount equal to its cost Discovered that the most prominent competitor in the area was bankrupt and was closing it-doors on April 30 Use the format of Exhibit 1 -2 (p. 12) to anal) /c the following transactions for April of Marymount Services. Inc. Then prepare a balance sheet as of April 30, 20X1. Mary mount Services was founded on April 1. Issued 1.000 shares of common stock for cash. $60,000; use a single Paid-in-Capital account Issued 500 shares of common stock for equipment. $20,000 Borrowed cash, signing a note payable for $35,000 Purchased equipment for cash. $33,000 Purchased office furniture on account. $10,000 Disbursed cash on account (to reduce the account payable). $4,000 Sold equipment for cash, $8,000, an amount equal to its cost Discovered that the most prominent competitor in the area was bankrupt and was closing it-doors on April 30