Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation Total assets MONITOR WORLD CORPORATION Balance Sheets December 31, 2024 and 2023 2024 2023 $176,400 88,000 $125,000 97,000 100,000 85,000 4,500 2,500 530,000 530,000 840,000 720,000 (478,000) (318,000) $1,241,500 Liabilities and Stockholders' Equity $1,260,900 Current liabilities: Accounts payable Interest payable $104,000 $90,000 6,500 12,500 Income tax payable Long-term liabilities: Notes payable Stockholders' equity: 8,500 5,500 120,000 240,000 Common stock 750,000 750,000 Retained earnings 271,900 143,500 Total liabilities and stockholders' equity $1,260,900 $1,241,500