QUESTION 8 Prepare a balance sheet using the information given below. Make sure to identify current assets, net fixed assets, total assets, current liabilities, long-term debt, total equity, and total liabilities and equity. $40,000 $18,000 $5,000 $30,000 $43,000 Gross fixed assets Cash Other assets Accumulated depreciation Common stock Short-term notes payable Accounts payable Inventories Retained earnings Accounts receivable Long-term notes payable Long-term bonds payable Sales Cost of goods sold Depreciation expense $12,000 $35,000 $122,000 $100,000 $60,000 $10,000 $15,000 $300,000 $150,000 $3,000