The Longmeadow Painting Company is founded by Sam & Cal on June 1, 2015

The Longmeadow Painting Company is founded by Sam & Cal on June 1, 2015. During June, the company records the following activities: • Sam and Cal each contribute $1,000 cash to found the business • Sam contributes his van to the company in exchange for additional owenrship; the van is estimated to be worth $3,000. . Cal contributes two ladders in exchange for additional ownership. The ladders have a combined estimated value of $500. • Sam and Cal borrow $2,000 cash from their friend Kash. . Sam and Cal uso cash to purchase the following items: • Paint ($1,200) • Paint brushes and other supplies ($800) Fill in the following balance sheet for Sam & Cal incorporating the above activities. Do NOT enter S signs, just numbers: Longmeadow Painting Co. Balance Sheet For the month ended June 30, 2015 Assets Cash Inventory (paint) Supplies Equipment - Van Equipment - Ladders Total Assets Liabilities Loans Payable Owners' Equity Common Stock Total bits and Owners' Equity