Answer and Explanation:
The preparation of the balance sheet is as follows:
Assets
Accounts receivable $3,300
Cash $6,310
Supplies $3,880
Equipment (net) $109,800
Inventory $2,940
Total assets $126,230
Liabilities and stockholder equity
Accounts payable $4,100
Interest payable $580
Unearned service revenue $820
Salaries and wages payable $850
Notes payable $31,500
Common stock $50,400
Retained earnings (balancing figure) $37,980
Total Liabilities and stockholder equity $126,230
