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Unformatted text preview: (b) Prepare a balance sheet for Deer Park as of December 31, 2008. (List assets in order of liquidity and liabilities from largest to smallest e.g. 10, 5, 3, 2.) Deer PARK Balance Sheet December 31, 2008 Assets Cash $ 23000 Supplies 2500 Equipment 105500 Total assets $ 131000 Liabilities and Stockholder's Equity Liabilities Notes payable $ 60000 Accounts payable 11000 Total Liabilities 71000 Owner's equity Common stock 20000 Retained earnings 40000 60000 Total liabilities and stockholder's equity $ 131000...
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