7 125 points Some recent financial statements for Smolira Golf Corporation follow. SMOLIRA GOLF CORPORATION 2020 and 2021 Balance Sheets 2021 Liabilities and Owners' Equity Current liabilities Accounts payable Assets 2020 Skipped Current assets Cash Accounts receivable Inventory $ 32,653 16,911 34,495 $39,350 28,877 Notes payable 44,336 Other Total $ 84,059 $112,563 Total eBook Long-term debt 2020 2021 $34,886 $44,285 18,058 16,848 18,871 25,619 $ 71,815 $86,752 $110,000 $ 140,000 Ask 10 Pin Fixed assets Owners' equity Common stock and paid-in surplus Accumulated retained earnings $ 55,000 $ 55,000 288,343 333,683 Net plant and equipment $ 441,099 $ 502,872 Total $343,343 $ 388,683 References Total assets $525,158 $ 615,435 Total liabilities and owners' equity $525,158 $ 615,435 SMOLIRA GOLF CORPORATION 2021 Income Statement Sales $ 531,750 Cost of goods sold 377,294 Depreciation 46,686 Earnings before interest and $107,770 taxes Interest paid 20,650 Taxable income $87,120 Taxes (25%) 21,780 Net income $65,340 Dividends $20,000 Retained earnings 45,340