Question: Financial data for Peach Tree Boutique is given below. All figures are in dollars. Use this data to construct a Balance Sheet for the company

Financial data for Peach Tree Boutique is given below. All figures are in dollars. Use this data to construct a Balance Sheet for the company for the year ending December 31, 2021 and use your constructed statement to answer the following 5 questions (i.e., 25 through 29). NOTE: Not every item in the list below belongs on the balance sheet you have to use some given data to determine needed accounts for the balance sheet. However, other than what is listed and/or can be derived, there are no other accounts on the companys balance sheet - use cash as a plug figure to balance the balance sheet.

Accounts payable

347,800

Accruals

162,400

Accumulated depreciation

7,418,300

Additional paid in capital

2,247,500

Beginning of year inventory

1,875,900

Common stock ($1.75 par value)

462,000

Cost of goods sold

15,017,600

Current portion of Long-term debt

401,600

Gross accounts receivable

726,500

Gross fixed assets

18,479,300

Long-term debt (excluding current portion)

8,547,000

P urchases

15,479,900

Retained earnings

3,472,100

Returns and allowances

14,900

Short-term bank loan

104,700

Cash

???

  1. What did Peach Tree Boutique record as Total Current Assets on December 31, 2021 balance sheet?

  2. What did Peach Tree Boutique record as Total Current Liabilities on December 31, 2021 balance sheet?

  3. What did Peach Tree Boutique record as Total Assets on December 31, 2021 balance sheet?

  4. What was Total Shareholders Equity on Peach Tree Boutique December 31, 2021 balance sheet?

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