The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 20Y2:

Cash	$238,400
Accounts receivable	960,300
Inventory	1,644,400
Estimated returns inventory	20,900
Office supplies	22,200
Prepaid insurance	15,100
Office equipment	825,800
Accumulated depreciation-office equipment	551,100
Store equipment	3,603,000
Accumulated depreciation-store equipment	1,819,400
Accounts payable	356,700
Customer refunds payable	48,800
Salaries payable	44,900
Note payable (final payment due in 6 years)	285,000
Common stock	507,300
Retained earnings	2,822,800
Dividends	108,200
Sales	11,405,100
Cost of goods sold	7,856,600
Sales salaries expense	908,400
Advertising expense	545,800
Depreciation expense-store equipment	142,200
Miscellaneous selling expense	41,000
Office salaries expense	651,300
Rent expense	90,800
Depreciation expense-office equipment	40,700
Insurance expense	47,600
Office supplies expense	35,000
Miscellaneous administrative expense	15,200
Interest expense	28,200

Prepare a balance sheet, assuming that the current portion of the note payable is $56,000. Be sure to complete the statement heading. Refer to the problem data and the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon (:) will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Score: 181/243

Clairemont Co.

Balance Sheet

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19	Liabilities
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29	Stockholders’ Equity
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Answer rating: 100% (QA)

Clairemont Co Balance Sheet May 31 20Y2 Assets Current assets 23840000 96030000 164440000 222000... View the full answer