ASSETS LIABILITIES Cash $10,000 Accounts payable $12,000 Accounts receivable 100,000 Notes payable 50,000 Inventory Total current liabilities Total current assets $220,000 Long-term debt Gross PP&E 500,000 Total Liabilities $190,000 Less accumulated depreciation Net PP&E $375,000 EQUITY Total Assets Common stock ($1 par; 100,000 shares) Paid-in capital Retained earnings 150,000 Total stockholders equity Total Liabilities and Equity Reminder: A=L+E

ASSETS			LIABILITIES
Cash	$10,000		Accounts payable	$12,000
Accounts receivable	100,000		Notes payable	50,000
Inventory			Total current liabilities
Total current assets	$220,000		Long-term debt
Gross PP&E	500,000		Total Liabilities	$190,000
Less accumulated depreciation
Net PP&E	$375,000		EQUITY
Total Assets			Common stock ($1 par; 100,000 shares)
			Paid-in capital
			Retained earnings	150,000
			Total stockholders equity
			Total Liabilities and Equity
Reminder: A=L+E