2017 and 2018 Balance Sheets Assets 2017 Liabilities and Owners' Equity 2018 2017 2018 Current assets Current liabilities ccounts$ 37852 $ 42,932 19,708 16,725 20,494 25,194 $78,054 $ 84,851 Long-term debt$ 118,500 $ 181,793 Cash $ 35.085 $ 38,480 payable 28,396 Notes Inventory 3,820 42,912 Other Total Accounts 18151 receivable payable Total $ 57,056 109,788 Owners' equity Common stock and paid- $ 55,700 $ 55,700 in surplus Accumulated retained earnings 269,812 308,127 Fixed assets Net plant and equipment $465,010 $520,683 Total $325,512 $363,827 Total liabilities Total assets $522,066 $ 630,471 and owners' $522,066 $ 630,471 equity SMOLIRA GOLF CORP 2018 Income Statement $509,954 361,778 45,338 Sales Cost of Depreciation Earnings goods sold before interest and taxes 102,838 20,383 $ 82,455 Interest paid Taxable Taxes (22%) Net income income 18140 64,315 Dividends $26,000 Retained 38,315 earnings