Accounts payable.. . $ 74,300
Accounts receivable.. . 113,500
Buildings.. . 512,000
Owners’ equity, 1/1/09.. . 314,300
Cash.. . 153,600
Distributions to owners during 2009.. . 48,100
Supplies.. . 4,250
Land.. . 90,000
Mortgage payable.. . 423,400
Net income for 2009.. . 109,450
Owners’ equity, 12/31/09..

1)Accounts payable $ 74,300
2)Accounts receivable 113,500
3)Buildings 512,000
4)Owners’ equity, 1/1/09 314,300
5)Cash 153,600
6)Distributions to owners during 2009 48,100
7)Supplies 4,250
8)Land 90,000
9)Mortgage payable 423,400
10)Net income for 2009 109,450
11)Owners’ equity, 12/31/09.

BALANCE SHEET AS AT 12/31/09

FIXED ASSETS

8)Land 90,000
3)Buildings 512,000

TOTAL FIXED ASSETS = 602,000

CURRENT ASSETS

5)Cash 153,600
7)Supplies 4,250
2)Accounts receivable 113,500

TOTAL CURRENT ASSETS = 271,350

TOTAL ASSETS = 873,350

LONG TERM LIABILITIES

9)Mortgage payable 423,400

TOTAL LONG TERM LIABILITIES = 423,400

CURRENT LIABILITIES

1)Accounts payable 74,300

TOTAL CURENT LIABILITIES = 74,300

TOTAL LIABILITIES = 497,700

NET ASSETS = 375,650

EQUITY

4)Owners’ equity, 1/1/09 314,300
ADD
10)Net income for 2009 109,450
SUB-TOTAL = 423,750
LESS
6)Distributions to owners during 2009 48,100

11)Owners’ equity, 12/31/09. = 375,650