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Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service

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Wolfpack Construction has the following account balances at the end of the year. Accounts Equipment Accounts payable Salaries expense Common stock Land Notes payable Service revenue Cash Retained earnings Balances $20,000 1,800 27,000 10,000 12,000 14,000 33,000 4,800 2 Required: Use only the appropriate accounts to prepare a balance sheet. Answer is complete but not entirely correct. WOLFPACK CONSTRUCTION Balance Sheet Assets $ Equipment Land DI 1,800 14,000 15,800 Cash Common stock 31,600 December 31 Liabilities $ 20,000 Accounts payable 12,000 Notes payable 4,800 Land Common stock Total liabilities Stockholders' Equity Common stock Service revenue Salaries expense Total stockholders' equity $36.800 Total liabilities and stockholders' equity S. x 10,000 6,000 5,000 21,000 $ 52,600 Total assets

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