09 fx D E 18 19 OTAL ASSETS 20 21 LIABILITIES AND STOCKHOLDERS' EQUITY 22 23 CURRENT LIABILITIES 24 25 Accounts payable 75,000 26 Accrued expenses 27 ncome tax payable 5,000 28 current portion of notes payable 12,000 29 peferred income taxes 1,500 30 31 otal current liabilities 123,500 32 33 ONG TERM LIABILITIES 34 Jotes payable (long term) 35 36 TOTAL LIABILITIES 161,500 37 38 TOCKHOLDERS' EQUITY 39 40 Common stock 5,000 41 Additional paid-in capital 15,000 42 43 letained Earnings 44 45 otal stockholders equity 46 47 TOTAL LIABILITIES AND STOCKHOLDERS EQUITY 48 49 50 51