Assets Current Assets Cash AeetRee Inven. Total Fixed Assets Net Plant and equipment Total Assets 2020 250 350 850 1,450 5,850 2,300 Test 1, Ltd. Balance Sheets 2021 2020 2021 Liabilities and Owner's Equity Current Liabilities 3 00 Accounts Payable 400 Notes Payable 900 Total 1,600 Long Term Debt Owner's Equity 6,000 Common Stock and paid in surplus Retained Earnings Equity 2,600 Total L + DE 200 650 1,350 1,150 1,000 3,800 4,800 2,300 650 350 1,000 1,250 950 4,400 5,350 2,600 Test1, Ltd. Income Statement 2021 Sales 5,000 Costs 2,900 Depreciation 600 EBIT 1,500 Interest Paid 300 Taxable Income 1.200 Taxes 400 Net Income 800 Dividends 200 Addition to Retained Earn. 600