A. Explanation of company's assets. What are the main contributions to assets?

B.Explanation of the companys liabilities. What are the main liabilities?

2013 2012 Cash 6,000 5,700 Accounts Receivable 2,350 2,300 Inventory 12,100 6,500 Total Current Assets 20,450 14,500 Land 25,000 20,000 Building & Equipment 300,000 300,000 Less: Accumulated Depreciation - Building & Equipment (187,850) (160,000) Total Long Term Assets 137,150 160,000 Total Assets 157,600 174,500