Entity A

Balance Sheet

As of December 31, 20x1

Assets

Liabilities

Cash

$120,000

Accounts Payable

$20,000

Merchandise

50,000

Borrowings

80,000

Equipment

70,000

Total Liabilities

100,000

Equity

Owner's Equity

140,000

Total Equity

140,000

Total Assets

$240,000

Total Liabilities and Equity

$240,000