HELP

Requlred Information P5-1 (Algo) Preparing a Balance Sheet and Analyzing Some of lts Parts LO5-3 [The following information applies to the questions displayed below.] Exquisite Jewelers is developing its annual financial statements for the current year. The following amounts were correct at December 31 , current year: cash, $58,450; accounts receivable, $71,500; merchandise inventory, $155,000; prepaid insurance, $1,550; investment in stock of Z Corporation (long-term), $36,500; store equipment, $68,000; used store equipment held for disposal, $9,200; accumulated depreciation, store equipment, $19,100; accounts payable, $53,000; long-term note payable, $42,500; income taxes payable, $9,500; retained earnings, $165,000; and common stock. 101,000 shares outstanding, par value $1.00 per share (originally sold and issued at $1.10 per share). P5-1 Part 1 Requlred: 1. Based on these data, prepare a December 31 , current year, balance sheet. Note: Amounts to be deducted should be Indlcated by a minus sign