a December 31, in in retained earnings for the year ended staleilleill are a A are statement of cash flows method using balance sheet Pr Following a e balance sheets at L Rebruary 28, 2017 MILLCO, INC. Balance Sheets February 28 and January 31, 2017 February 28 January 31 Assets $126,000 $111,000 Accounts receivable 192,000 159,000 Merchandise inventory 243,000 282,000 Total current assets $561,000 $552,000 Plant and equipment: Production equipment. 498,000 456,000 Less: Accumulated depreciation (72,000 03,000 Total assets. $987,000 $945,000 Liabilities Accounts payable $111,000 $123,000 Short-term debt 132.000 132,000 Other accrued liabilities. 63,000 72,000 Total current liabilities. $306,000 $327,000 Long-term debt 99.000 138,000 $405,000 $465,000 Total liabilities. Stockholders' Equity Common stock, no par value, 80,000 shares authorized, $312,000 $288,000 60,000 and 56,000 shares issued, respectively Retained earnings Beginning balance. $192,000 $129,000 Net income for month 108,000 87,000 (30,000) (24,0000 $270,000 $192,000 Ending balance $582,000 $480,000 Total stockholders' equity $987,000 $945,000 abilities and stockholders' equity