Prepare a December 31 balance sheet in proper form for Smokey River Supplies from the following list of the accounts:
Definitions:
Inventory
Items owned by a company consisting of raw materials, work-in-process, and finished goods that are considered to be part of the business's assets that are ready or will be ready for sale.
Intra-entity Transfers
Transactions involving assets, services, or funds between divisions or departments within the same entity.
Voting Stock
Shares that grant the shareholder the right to vote on corporate matters, such as the election of the board of directors.
Foreign Corporation
A company that is incorporated in a country outside of where it operates or conducts its business.
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