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Prepare a balance sheetPlace the appropriate account in the balance sheet and theappropriate amount.If the item does not belong on a balance sheet do not put theitem on the balance sheet.Cash = $270,000; Notes payable = $300,000; Receivables Turnover= 20; Sales = $5,000,000; Total current assets =$750,000; Net working capital = $350,000; Total assets =$10,000,000; Retained earnings = $2,500,000; Common Stock = ?;Fixed Assets = ?; Accounts Payable = ? Inventory = ?ABC CompanyBalance SheetDecember 31, 2018AssetsLiabilitiesCurrent AssetsCurrent Liabilities1 cash12 inventory23Total Current LiabilitiesTotal Current Assets2,500,000Long term Debt2,000,000Long term assets:Total Liabilities1Equity12Total Assets10,000,000Total Liabilities and EquityAnd explanation please