Based on the figures below and using this blank form

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, create a Balance Sheet. Once you have done the calculations, fill in the answers in the text boxes below. You may need to use scratch paper.

Accumulated Depreciation 11,000	Accounts Receivable 15,000
Ending Inventory (at cost) 36,000	Net Income After Taxes for the year 325,500
Owner Withdrawals 20,000	Total Long-Term Assets 149,000
Notes Payable 50,000	Total Liabilities and Owners Equity 500,000
Accounts Payable 10,000	Owner Capital (beginning of the year) 50,000
Cash and Equivalents 300,000	Owner Capital Paid (in current year) 50,000
Long-Term Debt 34,500