The following are account balances on December 31, 2011 for I.C. Optometry (in alphabetical order):

Accounts Payable $ 30,000
Accounts Receivable, Net $ 80,000
Cash $ 16,000
Equity (January 1, 2011) $128,000
Expenses (includes taxes) $390,000
Inventory $ 62,000
Long-term Debt $ 70,000
Long-term Investments $ 20,000
Net Property & Equipment $110,000
Revenues $450,000

Create I.C. Optometry's Balance Sheet (Hint: Not all of the accounts above are balance sheet accounts - you may need to calculate I.C.'s income!)