Prepare a balance sheet in proper format for the company as of December 31st based on the following accounts. Answer questions 8 through 10 based on this balance sheet. Accounts Payable

5,000

Long-term Notes Receivable

10,000

Accounts Receivable

15,000

Accrued Expenses

3,000

Cash

10,000

Short-term Notes Payable

7,000

Retained Earnings

2,000

Accumulated depreciation

2,000

Prepaid Expenses

3,000

Capital Stock

8,000

Supplies

7,000

9. What is the company’s total equity?

Question 9 options:

$10,000

$8000

$2000

$25000