Step # 4 (Work Sheet # 4) Prepare Work Sheet for the Balance Sheet as at December 31, 2019 Lancer's Balance Sheet December 31, 2019 Assets Current Assets Cash Marketable Securities 2a Accounts Receivable (Net) $ les 10% Food Inventory 2b&2e Prepaid Expenses (Rent $ + Ins. $ Total Current Assets Investments Property and Equipment Land Building Equipment 2c Less Accumulated Depreciation $100,000 + Net Property and Equipment Total Assets $ Liabilities and Owner's Equity Current Liabilities Accounts Payable $ iii Income Taxes Payable ( x .20) Current Maturities of Long-Term Debt Dividends Payable ($ - $ Accrued Expenses Total Current Liabilities Long-Term Debt 3 ($