Instructions PART 1: Using the information provided to you for the new start-up fast food restaurant, "ABC: Adib's Burger's and Chicken", create the opening Balance Sheet, and answer the following multiple choice questions using your ledger as reference. Opening Account Balances -The business currently holds a cash balance of $3,900 -Company holds roughly $2.400 in product inventory -All appliances: estimated total value of 30,000 -The business just bought a new vehicle valued at 43,000. We put 10% down, and are financing the rest. -$5,500 in Glassware and China -Restaurant is leased, and the first 3 months of rent have been pre-paid at the rate of 8,000/month -Furniture and Fixtures, estimated value of $10,000 -The business has accumulated $2,400 in accounts payable, and another $1,000 in credit card debt! -New and approved Bank Loan of $50,000 (Will Collect) Question 1 What is the total Cash Balance? $3,900 0 $168,800 $53,900 O $80,300 D Question 2 What is the value of all of the company's TOTAL ASSETS? $88,500 $168,800 $85,300 $81,700 D Question 3 How much does ABC company have left to pay on the truck? 1 pts 1 pts 1 pts