Assets Cash Accounts Receivable Prepaid Insurance Inventory Property, Plant & Equipment Accumulated Depreciation Total Assets Solar Electric Inc. Balance Sheet As at December 31, 2022 $158,700 Liabilities Accounts Payable $35,400 32,600 Unearned Revenue 21,000 6,700 Bank Loan 45,000 82,400 Total Liabilities 101,400 180,000 Shareholders' Equity -41,000 Common Shares-150,000 issued 150,000 Retained Eamings 168,000 Total Shareholder's Equity 318,000 $419,400 Liabilities & Owner's Equity $419,400 At 2022, Clark has authorized 300,000 common shares and 60,000 preferred shares. The preferred shares will be cumulative and pay $6 dividends. The 150,000 shares issued were issued to Clark. He will maintain control of the company and sit on the board of directors. Solar Electric Inc. Balance Sheet As at December 31, 2023 Assets Current Assets cash short term investment-citi inc short term investment-bonds valuation allowance for fair value adjustment account receivable interest receivable merchandise inventory prepaid insurance Total Current Assets Investment in HSBC Common shares long term investment bonds Property, Plant and Equipment less:acc depreciation Total Long Term Assets Total Assets Liabilities Current Liabilities Account Payable Interest Payable Unearned revenue Bank loan-Current portion Total Current Liabilities Long Term Liabilities bonds payable less:discount on bonds bank loan,long term t portion Total Long Term Liabilities Total Liabilities Shareholder's Equity $100,649 237,000 135,000 50,700 35.860 9,113 90,640 7,370 $666,332 503,840 145,000 280,000 (86,000) 194,000 842,840 $1,509,172 212,400 31,167 21,000 25,000 $289,567 340,000 15,741 324,259 200,000 524,259 724,259 Contributed capital Common Shares Preferred Shares 362,000 80,000 Retained Earning 342,913 Total Shareholder's Equity $784,913 Total liabilities and Shareholder's Equity $1,509,172