Use the Following Accounts and Balances to Prepare a Balance

Essay

Use the following accounts and balances to prepare a balance sheet for Paulding Company at December 31,2013.
$\begin{array}{|l|r|}\hline \text { Accounts Payable } & \$ 20,000 \\\hline \text { Common Stock } & 24,000 \\\hline \text { Cash } & 9,600 \\\hline \text { Retained Earnings, Dec. 31, 2013 } & 4,800 \\\hline \text { Equipment } & 26,400 \\\hline \text { Accounts Receivable } & 12,800 \\\hline\end{array}$