The bookkeeper for Lowell€™s Country Music Bar left this incomplete balance sheet. Lowell€™s working capital is $90,000 and its debt to assets ratio is 40 percent.

Required
Complete the balance sheet by supplying the missing amounts.

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Assets Current assets $ 21,000 Cash Accounts receivable Inventory Prepaid expenses 42,000 (A) 9,000 Total current assets (B) Long-term assets Building Less: Accumulated depreciation Total long-term assets (C) (39,000) 210,000 Total assets (D) Liabilities and Stockholders' Equity Liabilities Current liabilities Accounts payable Notes payable Income tax payable (E) 12,000 10,500 37,500 Total current liabilities Long-term liabilities Mortgage payable (F) Total liabilities (G) Stockholders' equity Common stock 105,000 (H) Retained eamings Total stockholders' equity Total liabilities and stockholders' equity (1) (J)