Jim Smith had trouble finding out a job; therefore he decided to begin his own sole propriety ship by the name of Designers Inc. Jim is a web site designer, and here are the results as of the end of the first year of his business:
Accounty payabe $12,100
Cash 19,150
Service revenue 20,000
Contributed capital 21,000
Wage expense 4,100
Inventory 4,445
Rent expense 5,000
Equipment 16,325
Supplies 4,080
Retained earnings 6,820
Make a balance sheet in its appropriate format with the heading left aligned.