Required information P5.1 (Aigo) Preparing a Balance Sheet and Analyzing Some of Its Parts LO5-3 The following information applies to the questions displayed below] Exquisite Jewelers is developing its annual financial statements for the current yeac. The following amounts were correct at December 31 , current year: cash, $59,800; accounts recelvable, $73,000; merchandise inventory, \$158,000; prepaid insurance, $1,700; investment in stock of 2 Corporation (fong-term), $38,000; store equipment, $77,000, used store equipment held for disposal, $9,800; accumulated depreciation, store equipment, $19,400; accounts payable, \$54,500; longterm note payable, \$44,000; income taxes payable. $11,000; retained earnings, $168,000; and common stock, 104,000 shares outstanding, par value $100 per share (originally sold and is sued ot $110 per share). P5-1 Part 1 Required: 1 Based on these data, prepare a December 31, current year, balance sheet. Note: Amounts to be deducted should be indicated by a minus sign