Use Question 2 to answer Question 3 & Question 4. Please and thank you.

Question 2.

In early December Alice and Bob decided to open Sample Cafe with $14,000 of their own money and $21,000 borrowed from a friend. They have spent $13,000 on equipment and furniture, and they have purchased $3,300 worth of cups for cash which they expect will be used over the next three months. Having put down a $2,400 deposit for a location on Main St., they will pay the first months rent when they open their doors on January 1.

In the balance sheet template below, fill in the appropriate values as of December 31.

Asset Account	Value	Liability/Equity Account	Value
Cash	$	Accounts Payable	$
Accounts Receivable	$	Long-Term Liabilities	$
Inventory	$	Total Liabilities	$
Furniture & Equipment	$	n/a	n/a
Accumulated Depreciation*	$	Paid-in Capital	$
Deposit	$	n/a	n/a
Total Assets	$	Total Liabilities & Equity	$

* Input Accumulated Depreciation as a negative value.

Question 3.

The Sample Cafe nearly broke even in the first month of business. Below is a simplified income statement for January along with some notes regarding specific transactions.

Sample Cafe Income Statement Summary Month Ended January 31, 20xx

Item	Value	Note
Revenue	$30,700	Includes $1,000 for a special event that has been invoiced, but not yet paid.
Cost of Goods Sold	$3,200	Includes $1,800 of cups used from inventory plus $1,400 of coffee beans. An additional $500 of large cups were purchased and delivered during the week but not yet paid for.
Total Expenses	$28,000	Includes equipment depreciation of $300.
Net Income	$-500	n/a

In in the previous question, you built Sample Cafes balance sheet for December 31. For this question, update the Sample Cafe balance sheet for January 31 using the template below to reflect the month of operations.

Asset Account	Value	Liability/Equity Account	Value
Cash	$	Accounts Payable	$
Accounts Receivable	$	Long-Term Liabilities	$
Inventory	$	Total Liabilities	$
Furniture & Equipment	$	n/a	n/a
Accumulated Depreciation*	$	Paid-in Capital	$
Deposit	$	Retained Earnings	$
Total Assets	$	Total Liabilities & Equity	$

* Input Accumulated Depreciation as a negative value.

Question 4.

What is the book value of furniture and equipment at the end of January?

Answer $.....