Assets Current assets: Cash Accounts receivable Inventory Investments Long-term assets: Land Equipment Less: Accumulated depreciation MONITOR WORLD CORPORATION Balance Sheets December 31, 2024 and 2023 2024 2023 $144,400 $122,000 82,000 94,000 97,000 82,000 4,200 2,200 500,000 500,000 810,000 690,000 (448,000) (288,000) $1,202,200 Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable $1,189,600 $101,000 $87,000 Interest payable 7,000 12,200 Income tax payable Long-term liabilities: Notes payable Stockholders' equity: 9,000 5,200 120,000 240,000 Common stock 720,000 720,000 Retained earnings 232,600 137,800 Total liabilities and stockholders' equity $1,189,600 $1,202,200