Assets Cash Accounts receivable Inventory Equipment alance Sheets December 31 Accumulated depreciation-equipment Total Liabilities and Stockholders' Equity 2020 2019 $38,000 $20,000 30,000 14.000 27,000 20,000 60,000 78,000 (29,000) (24,000) $126,000 $108,000 Accounts payable $24,000 $15,000 Income taxes payable 7,000 8,000 Bonds payable 27,000 33,000 Common stock 18,000 14,000 Retained earnings 50,000 38.000 Total $126.000 $108,000