Lynn Dreise is the bookkeeper for Sanculi SpA. Lynn has been trying to get the statement of financial position of Sanculi to balance correctly. Sanculi’s statement of financial position is shown as follows.

Instructions Prepare a correct statement of financial position.
Compute net income and prepare a statement of financial position.

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Sanculi SpA Statement of Financial Position December 31, 2025 Assets Liabilities Equipment 48,000 Share capital-ordinary 50,000 Supplies 8,000 Retained earnings 17,500 Cash 14,000 Accounts payable 16,000 Dividends 5,000 Accounts receivable (8,500) Total assets 75,000 Total equity and liabilities 75,000