85% of the sales for waterways were credit sales. There are 5,000 shares outstanding for both years. This is a private corporation whose shares are not available to the public WATERWAYS CORPORATION-INSTALLATION DIVISION Balance Sheets 2020 2019 Current assets $747,700 543,800 Cash Accounts receivable Work in process Inventory Prepaid expenses $833,200 677,400 700,100 16,600 77,200 2,304,500 7,600 42,300 1,341,400 Total current assets Property, plant, and equipment 297,000 451,000 933,400 297,000 451,000 806,300 40,400 Land , Buildings Equipment Furnishings Accumulated depreciation 40,400 (479,100) (486,400) 1,242,700 1,108,300 $3,547,200 $2,449,700 Total property, plant, and equipment Total assets Liabilities and Stockholders' Equity Current liabilities $156,300 102,200 4,500 1,200 14,300 14,800 293,300 $129,000 80,600 2,000 .8 Accounts payable Income taxes payable Wages payable Interest payable Other current liabilities 15,200 1,4 Revolving bank loan payable S Long-term liabilities 6, Total current liabilities 226,800 Note payable 140,000 433,300 Total liabilities 226,800 Stockholders' equity Common stock 1,250,000 1,250,000 972,900 3,113,9002,222,900 $3,547,200 $2,449,700 Retained earnings 1,863,900 Total stockholders' equity Total liabilities and stockholders' equity