5 Current assets 6 Cash 7 Accounts receivable 8 Inventory 9 Prepaid insurance $ 41,000 $ 11,000 75,000 81,000 63,000 21,000 12,000 17,000 10 Total current assets 11 $ 191,000 $ 130,000 12 Land 13 Equipment 14 Less: Accumulated depreciation 15 Total assets $ 104,000 $ 115,000 79,000 54,000 (20,000) (13,000) $ 354,000 $286,000 16 17 Liabilities 18 Current liabilities 19 Accounts payable 20 Wages payable $ 24,000 $ 37,000 21 Interest payable 22 Income taxes payable 23 Total current liabilities 24 N 25 Notes payable (long-term) 26 Total liabilities 27 37,000 24,000 11,000 10,000 8,000 5,000 $ 80,000 $ 76,000 94,000 86,000 $ 174,000 $ 162,000 28 Stockholders' equity 29 Common stock 30 Retained earnings 31 Total stockholders' equity 32 33 Total liabilities and equity $ 138,000 $ 115,000 42,000 9,000 $ 180,000 $124,000 $ 354,000 $ 286,000