Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities WALTON COMPANY Balance Sheets As of December 31 Year 4 Year 3 $ 25,000 21,800 $ 21,000 7,800 59,000 51,000 144,000 152,000 28,000 13,000 277,800 244,800 27,000 20,000 270,000 255,000 28,000 23,000 $602,800 $542,800 $ 41,600 $ 15,700 103,800 90,000 21,000 15,000 166,400 120,700 Bonds payable 100,000 100,000 Other 33,000 28,000 Total noncurrent liabilities 133,000 128,000 Total liabilities. 299,400 248,700 Stockholders' equity shares authorized and issued) Preferred stock, (par value $10, 4% cumulative, non-participating; 8,000 Total stockholders' equity Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings 80,000 80,000 80,000 80,000 143,400 134,100 303,400 294,100 Total liabilities and stockholders' equity $602,800 $542,800