2020 and 2021 Balance Sheets
Assets	2020	2021	Liabilities and Owners Equity	2020	2021
Current assets			Current liabilities
Cash	$ 32,653	$ 39,350	Accounts payable	$ 34,886	$ 44,285
Accounts receivable	16,911	28,877	Notes payable	18,058	16,848
Inventory	34,495	44,336	Other	18,871	25,619
Total	$ 84,059	$ 112,563	Total	$ 71,815	$ 86,752
			Long-term debt	$ 110,000	$ 140,000
			Owners equity
			Common stock and paid-in surplus	$ 55,000	$ 55,000
Fixed assets			Accumulated retained earnings	288,343	333,683
Net plant and equipment	$ 441,099	$ 502,872	Total	$ 343,343	$ 388,683
Total assets	$ 525,158	$ 615,435	Total liabilities and owners equity	$ 525,158	$ 615,435

CORPORATION
2021 Income Statement
Sales		$ 531,750
Cost of goods sold		377,294
Depreciation		46,686
Earnings before interest and taxes		$ 107,770
Interest paid		20,650
Taxable income		$ 87,120
Taxes (25%)		21,780
Net income		$ 65,340
Dividends	$ 20,000
Retained earnings	45,340