Williams Company reports the following accounts and balances at December 1, 2015: Accounts Payable $22,800 Accounts Receivable 18,800 Cash 24,400 Land 82,400 Machine 129,200 Merchandise Inventory 63,600 Long-term Note Payable 79,200 Short-term Note Payable 14,400 Paid-in Capital 200,000 Retained Earnings 2,000 The transactions for Williams Company for the month of December, 2015 follow: 1. Collected $9,200 from credit customers. 2. Paid $8,000 of the amount owed on account. 3. Sold inventory at cost for $2,400 and received cash. 4. Borrowed $4,000 in short-term notes payable. Required: Prepare a balance sheet at December 31, 2015 after considering the transactions above. Ignore depreciation expense and interest expense.