Problem 16 please finish Required: Prepare the balance sheet in accordance with the USALI.

Problem 16Julie Wayne is the new owner of the Moby Hotel in Washington, D.C. However, she has noexperience in the hospitality industry and has hired you to help the newest employee, CarolNiks, computerize the back office operations. The first job you must tackle is teaching Carolabout the balance sheet. The following is (1) a list of selected account balances in the generalledger on December 31, 20X1, and (2) some additional information.234 Chapter 6$141,022550,000Bank BalanceMarketable Securities1,530,761Accounts Payable3,861,725Land462,476Retained Earnings392,000Current Portion-Long-Term Debt4,768,333Building1,843,999Accounts Receivable2,000,741Furniture & Equipment1,795,463Paid-In Capital in Excess of Par??Prepaid InsuranceAccumulated Depreciation847,937Long-Term Debt??Capital StockAdditional information:1. The market value of the marketable securities as of December 31, 20X1, is $532,000.2. On January 1, 20X1, the previous owner purchased a two-year insurance policy for$40,000 to cover years 20X1 through 20X2.3. On December 31, 20X1, there were 50,000 shares of stock issued and outstanding with4.a par value of $10 per share. The 50,000 shares were sold for $2,295,463.Long-term debt can be calculated by subtracting owners' equity and all liabilities otherthan long-term debt from total assets.Required:Prepare the balance sheet in accordance with the USALI.