3 Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $610,000. Check my work 0.83 points eBook Print References Mc Graw HAMES INC. Balance Sheets December 31, 2020 and 2019 Assets Cash Accounts receivable Merchandise inventory Total current assets Land 2020 2019 $ 21,000 78,000 103,000 $ 20,000 72,000 99,000 $202,000 50,000 $191,000 40,000 Plant and equipment 125,000 110,000 Less Accumulated depreciation (65,000) (60,000) Total assets $312,000 $281,000 Liabilities Short-term debt Accounts payable Other accrued liabilities $10,000 64,800 20,000 $17,000 75,500 Total current liabilities. $102,000 Long-tern debt 22,000 Total liabilities $124,800 18,000 $110,500 30,000 140,500 Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively $74,000 $59,000 Retained earnings Beginning balance. Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity $1,500 $85,000 51,700 1,500 (20,000) (5,000) $113,200 $1,500 $187,200 $140,500 $312,000 $281,000 < Prev 3 of 12 Next >