3 Lundberg Corporation's most recent balance sheet and income statement appear below Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Asset Current assets: Cash Accounts receivable Inventory Prepaid expenses $ 190 S 200 300 310 200 190 20 20 Total current assets Plant and equipment, net 710 720 981 961 Total assets $1,691 S1,681 Liabilities and stockholders' equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term $ 250 240 140 140 190 200 Total current liabilities Bonds payable 580 580 280 330 Total liabilities 860 910 Stockholders' equity: Preferred stock, $100 par value, 10% Common stock, $1 par value Additional paid-in capital--common stock Retained earnings 290 290 100 110 331 280 100 110 Total stockholders' equity 831 780 Total liabilities and stockholders' equity 1,691 $1,690