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Example CompanyBalance SheetDecember 31, 2019ASSETSLIABILITIESCurrent assetsCurrent liabilitiesCash$ 2,100Notes payable5,000Petty cash100Accounts payable35,900Temporary investments10,000Wages payable8,500Accounts receivable – net40,500Interest payable2,900Inventory31,000Taxes payable6,100Supplies3,800Warranty liability1,100Prepaid insurance1,500Unearned revenues1,500Total current assets89,000Total current liabilities61,000Investments36,000Long-term liabilitiesNotes payable20,000Property, plant…