The following information is available for Pharoah Company Accounts receivable $2,200 Cash $6,300 Accounts payable 4,500 Supplies 3,820 Interest payable 540 Unearned service revenue 920 Salaries and wages expense 5,000 Salaries and wages payable 760 Notes payable 32,500 Depreciation expense 670 Common stock 50,500 Equipment (net) 109,800 Inventory 2,910 Using the information above, prepare a balance sheet as of December 31, 2022. (Hint: Solve for the missing retained earnings amount after first determining total assets and total liabilities.) (List assets in order of liquidity.)
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The following information is available for Pharoah Company
| Accounts receivable | $2,200 | Cash | $6,300 | |||
| Accounts payable | 4,500 | Supplies | 3,820 | |||
| Interest payable | 540 | Unearned service revenue | 920 | |||
| Salaries and wages expense | 5,000 | Salaries and wages payable | 760 | |||
| Notes payable | 32,500 | Depreciation expense | 670 | |||
| Common stock | 50,500 | Equipment (net) | 109,800 | |||
| Inventory | 2,910 |
Using the information above, prepare a
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