Presented Below Is Selected Financial Information for Stanley's Bike Shop

Essay

Presented below is selected financial information for Stanley's Bike Shop.Using the appropriate information,prepare its balance sheet at December 31,2014.
$\begin{array}{|l|r|}\hline \text { Total assets at December } 31,2014 & \$ 91,000 \\\hline 2014 \text { expenses } & 38,000 \\\hline \text { Total equity at December } 31,2013 & 48,000 \\\hline \text { Total liabilities at December } 31,2014 & 35,000 \\\hline 2014 \text { revenues } & 46,000\\\hline\end{array}$