2. (5 min.)
                                LONG COMPANY
                                Balance Sheet
                              December 31, 1999
     
                                   ASSETS
     Cash                                                    $ 12,000
     Accounts receivable                                       15,000
     Office equipment                                           4,000
     Building                                                  46,000
     Land                                                      52,000
       Total assets                                          $129,000
                                                                     
     
                                LIABILITIES
     Accounts payable                                        $  9,000
     
                            STOCKHOLDERS' EQUITY
     Common stock                                   80,000
     Retained earnings                              40,000    120,000
       Total liabilities and stockholders' equity            $129,000