Assets 2022 2021 Cash $ 177,760 $ 106,480 Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 321,200 Common stock 484,000 385,000 Retained earnings 514,800 231,990 $1,132,450 Total $1,501,500 Assets 2022 2021 Cash $ 177,760 $ 106,480 Accounts receivable 193,160 83,600 Inventory 247,500 226,270 Prepaid expenses 62,480 57,200 Long-term investments 303,600 239,800 Plant assets 627,000 533,500 Accumulated depreciation (110,000) (114,400 ) Total $1,501,500 $1,132,450 Liabilities and Stockholders' Equity Accounts payable $ 224,400 $ 148,060 Accrued expenses payable 36,300 46,200 Bonds payable 242,000 321,200 Common stock 484,000 385,000 Retained earnings 514,800 231,990 $1,132,450 Total $1,501,500