If; 'I' AssignmentZGui X / 'I' Elearn:2018SP x; 'I' Assignment1.dor x 9. C G) https://elearn.ttuhsc.edu/access/content/attachment/X... if a!) Assignment 1 Create a balance sheet using the following information. Submit as an Excel spreadsheet attachment. Short-cut terms may be used in the information. Be sure to spell-out appropriately. If the assets do not equal the liabilities, then create a placeholder in the section to balance the two. For example, let's say that the assets are less than liabilities. Then one could create a current assets placeholder that is not been listed below as a placeholder with an adequate dollar amount. Review the rubric for the grading guidelines. City Physician Practice Item Current Month Last Month Cash '5 500,000 $ 300,000 Land Improvements $ 250,000 $ 85,000 Accounts Payable $ 120,000 $ 110,000 Accounts Receivable $ 2,000,000 $ 1,950,000 Income Taxes Payable $ 50,000 $ 65,000 Retained Earnings $ 120,000 $ 90,000 Prepaid Expenses '36 75,000 $ 85,000 Salaries Payable $ 1,000,000 $ 1,000,000 Prepaid Insurance '3 30,000 $ 30,000 Questions: 1.) What are the Total Assets for the current month and the last month? a. Explain the signicance for these numbers. 2.) What are the Total Liabilities for the current month and the last month? a. Explain the signicance for these numbers. 3.) If you choose to add an additional item, why? 4.) Show the differences on the balance sheet for the current month and the last month. a. What does this snap shot of information tell us about the nancial health of the \"City Physician?\" (This is a critical thought process, explain in detail.) I'M... .11.- I. T')__L...' A