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The balance sheets for Plasma Screens Corporation, along with additional information, are provided below: PLASMA SCREENS CORPORATION Balance Sheets December 31, 2024 and 2023 2024 2023 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent Long-term assets: Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity: $ 108,900 82,000 105,000 $ 126,800 97,000 89,000 6,000 3,000 530,000 830,000 (438,000) $ 1,223,900 530,000 720,000 (288,000) $ 1,277,800 $ 109,000 6,900 10,000 $ 94,000 13,800 6,000 230,000 115,000 Common stock 750,000 750,000 Retained earnings 233,000 184,000 Total liabilities and stockholders' equity $ 1,223,900 $ 1,277,800 Additional Information for 2024: 1. Net income is $79,000. 2. The company purchases $110,000 in equipment. No equipment was sold. 3. Depreciation expense is $150,000. 4. The company repays $115,000 in notes payable. 5. The company declares and pays a cash dividend of $30,000.