Question: Macro Baking ( MBC ) was organized late last year and had minimal activity in the first year. At the beginning of the second year,

Macro Baking (MBC) was organized late last year and had minimal activity in the first year.
At the beginning of the second year, MBC had the following balance sheet:
Macro Baking Corp
Balance Sheet
At Jan 1,2023
Assets:
Cash
\table[[Cash,$12,500,Accounts Payable,500],[Accounts Receivable,700,Total Liabilities,500],[Supplies,630,,],[Inventories,200,Stockholders Equity:,],[,Common Stock,$11,770
Macro Baking (MBC) was organized late last year and had minimal

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