Problem 1. 25 points. Use the following information to prepare the balance sheet for the...
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Problem 1. 25 points. Use the following information to prepare the balance sheet for the Baywater Company for the ending June 30, 2018. Assume that these are the only balance sheet items and use cash as a pl to balance the balance sheet. You are required to prepare the company's balance sheet for 20 Be sure to identify, each of the following: Current assets, Current liabilities, Long-term liabil Net fixed assets, Total liabilities and Net worth Gross Fixed Assets Inventories Long-term debt (excluding current portion) Accrued expenses Accumulated depreciation Short-term bank loan (notes payable) Preferred Stock Retained earnings Current portion of long-term debt Net accounts receivable Additional paid-in-capital Accounts payable Common stock ($0.20 par value per share) Cash $284,950 136,500 134,300 11,850 82,310 32,570 8,000 89,280 4,080 105,770 71,600 50,830 60,000 ??? ash
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