A partially completed balance sheet for Blue Co., Inc., as of October 31, 2016, follows. Where amounts are shown for various items, the amounts are correct.

Required:

Using the following data, complete the balance sheet.

Blue Co.’s records show that current and former customers owe the firm a total of $4,400; $640 of this amount has been due for more than a year from two customers who are now bankrupt.

The automobile, which is still being used in the business, cost $17,700 new; a used car dealer’s Blue Book shows that it is now worth $10,000. Management estimates that the car has been used for one-third of its total potential use. (The car is being depreciated using the straight-line method.)

The land cost Blue Co. $12,000; it was recently assessed for real estate tax purposes at a value of $16,000 .

Blue Co.’s president isn’t sure of the amount of the note payable, but he does know that he signed a note.

Since Blue Co. was formed, net income has totaled $32,000, and dividends to stockholders have totaled $20,250. Assests Liabilities & SE Cash 700 Note payable $??? Accounts Recievable 3760 Accounts payable 3550 Land 12000 Total liabilities $??? Automoblie $??? Less: Accumulated depreciation ??? SE ??? Common Stock 4500 Retained earnings 11750 Total SE 16250 Total assests $??? Total liablitities & SE $???