QUESTION FIVE- BALANCE SHEET - 15 MARKS Prepare a balance sheet in good form at December 31, 2020 for Draydon Insurance Co. from the following items. Hint: Use the accounting equation to help calculate capital for December 31, 2020. Prepaid insurance Commissions earned Accounts payable Accounts receivable John Ace, capital Office equipment Advertising expense Cash Land Note payable Office supplies Salaries expense Salaries payable Building $1,500 38,000 2,800 1,100 28,800 6,000 1,400 4,100 20,000 72,000 400 7,800 700 100,000 ANSWER SHEET - QUESTION FIVE-BALANCE SHEET - 15 MARKS