The assets and liabilities of Rocky's Day Spa at December 31 and expenses for the year are listed below. The stockholders' equity was $68,000 ($48,000 in Common Stock and $20,000 in Retained Earnings) at January 1. The shareholders invested in an additional $10,000 of common stock during the year. Net income for the year is $45,625. 
Prepare a balance sheet for Rocky's Day Spa for the year ended December 31.
Definitions:
American Law Institute
An organization that produces scholarly work to clarify, modernize, and otherwise improve the law, including issuing Restatements of the Law.
Binding Contract
An agreement between two or more parties that is legally enforceable in a court of law.
Accepts Delivery
Refers to the act of receiving goods from a seller or transporter, acknowledging that the delivery meets the terms of the agreement.
Unilateral
Describes actions or agreements made by one party without the necessity for acceptance or agreement from another.
Q17: A chart of accounts is<br>A)the same as
Q52: Prepare adjusting entries for the following transactions:<br>(a)The
Q107: The following items were reported on the
Q110: The following items were reported on the
Q141: Presented below is the operating activities section
Q190: The normal balance of the dividends account
Q195: Which of the following ratios is the
Q201: Which of the following statements is true?<br>A)
Q211: The assets and liabilities of a company
Q228: Which of the following entries records the