6 Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2017 Assets 00:42:03 2017 2018 2018 Current assets Cash Accounts receivable Inventory $ 24,126 13,248 26,542 $ 24,900 Current liabilities Accounts payable $ 23,984 $ 27,900 16,000 Notes payable 27,900 Other 18,000 12,371 11,600 16,500 Total $ 63,916 $ 68,800 Total $ 54,355 $ 56,000 Long-term debt $ 77,000 $ 74,606 Owners' equity Common stock and paid-in $ 50,000 $ 50,000 surplus Accumulated retained. 215,256 250,394 earnings Fixed assets Net plant and equipment $332,695 $362,200 Total $265,256 $300,394 Total liabilities and owners' Total assets $ 396,611 $ 431,000 $ 396,611 $ 431,000 equity