William George achieved one of his life-long dreams by opening his own business, The Oriole Shack Driving Range, on May 1, 2020. He invested $19,750 of his own savings in the business. He paid $6,800 cash to have a small building constructed to house the operations and spent $775 on golf clubs, golf balls, and yardage signs. George leased 4 acres of land at a cost of $1,085 per month. (He paid the first month's rent in cash.) During the first month, advertising costs totaled $755, of which $160 was unpaid at the end of the month. George paid his three nephews $400 for retrieving golf balls. He deposited in the company's bank account all revenues from customers ($4,675). On May 15, George withdrew $775 in cash for personal use. On May 31, the company received a utility bill for $110 but did not immediately pay it. On May 31, the balance in the company bank account was $13,995. George is feeling pretty good about results for the first month, but his estimate of profitability ranges from a loss of $5,755 to a profit of $1,550. Prepare a balance sheet at May 31, 2020. (List Assets in order of liquidity.) Oriole Shack Driving Range Statement of Financial Position Assets Liabilities and Equity Owners' Equity Utilities Payable Cash Advertising Payable Equipment Buildings Retained Earnings Accounts Payable Notes Payable Owners' Capital itie Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities & Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Total Stockholders' Equity