4. Max Industries reported the following amounts on its balance sheet on December 31, 2017:

Cash	$170,000
Notes payable	100,000
Inventory	325,000
Contributed Capital	750,000
Net Property, Plant & Equipment	600,000
Accounts Receivable	30,000
Accounts Payable	76,000
Retained Earnings	?

(1). What is the amount of Maxs retained earnings at the end of 2017?

(2). Prepare a balance sheet for Max Industries using U.S. GAAP as of December 31, 2017.

(Show work please)