Scenario:On December $31,2022,$ you decide to open a lemonade stand. You incorporate the business and make yourself the sole owner. You open a business checking account, deposit $$100,000$ of your own money, and borrow $$50,000$ from the bank. The bank agrees to lend you the $$50,000$ at a $10\%$ interest rate, with repayment due in $5$ years. You set the number of shares outstanding at $10,000.$ You spend $$20,000$ on lemons, sugar, and cups $($inventory$).$ Additionally, you purchase a lemon squeezer and a lemonade stand for $$30,000($useful life of $3$ years$).$Question: What does the opening balance sheet look like? $($Build the balance sheet as of $12/31/2022)$ During the fiscal year ended December $31,2023$:You sold $$100,000$ in lemonade but collected $$80,000$ in cash $($customers still owe you $$20,000).$You used up all your inventory.You hired a cashier and paid them $$15,000$ in cash.You depreciate the lemon squeezer and lemonade stand $($useful life of $3$ years$).$You pay interest expense.You also have to pay $21\%$ of pretax profits in taxes.Additionally, you bought $$30,000$ in new inventory to replenish supply $($$$20,000$ in cash, $$10,000$ on credit$).$At year$-$end, you spent $$40,000$ on a new lemonade stand $($no depreciation recorded in the current year$).$You paid yourself a $$10,000$ dividend.