While on assignment you discover that you have misplaced the balance sheet of Bird Corpora-

tion as of January 1, Year 1. However, you do have the following data on Bird Corporation:

Required:
Using the available data and information, prepare the balance sheet of Bird Corporation as of January 1, Year 1. T-accounts can be helpful in reconstructing the individual accounts. (Note:
Equipment sold had accumulated depreciation of $50,000.)