The following information is available for Blossom Company:

Accounts receivable $2,100

Cash $6,390

Accounts payable 4,500

Supplies 3,800

Interest payable 670

Unearned service revenue 820

Salaries and wages expense 4,800

Service revenue 40,900

Notes payable 31,500

Salaries and wages payable 830

Common stock 58,900

Depreciation expense 670

Inventory 2,920

Equipment (net) 109,300

Required:

Using the information above, prepare a balance sheet as of December 31, 2022.

Total Assets = $124,510

Total Liabilities = $38,320

Total Stockholders' equity = $86,190

Explanation:

Blossom Company

Balance sheet

As at December 31, 2022

Assets

Current assets

Cash $6,390

Accounts receivable 2,100

Supplies 3,800

Inventory 2,920

Total current asset $15,210

Non-current asset

Equipment (net) 109,300

Total assets 124,510

Liabilities and Stockholders' Equity

Current liabilities

Accounts payable $4,500

Interest payable 670

Unearned service revenue 820

Salaries and wages payable 830

Total current liabilities $6,820

Long-term liabilities

Notes payable 31,500

Total liabilities $38,320

Stockholders' equity

Common stock 58,900

Retained earnings (Balancing amount) 27,290

Total stockholders' equity $86190

Total liabilities and stockholders' equity $124,510