Assets VIDEO PHONES, INC. Balance Sheets December 31 Current assets Cash Accounts receivable Inventory Prepaid rent Long-term assets: Investments Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Notes payable ect for the work you have completed so far. It does not indicate compl 2021 2020 $193,480 78,800 $127,840 58,000 105,000 133,000 10,320 5,160 103,000 0 208,000 236,000 266,000 208,000 (66,600) $898,000 (41,600) $726,400 $ 64,200 5,800 14,800 $ 79,000 9,600 13,800 Long-term liabilities: 281,000 223,000 Stockholders' equity Common stock 280,000 280,000 Retained earnings 252,200 121,000 Total liabilities and stockholders' equity $898,000 $726,400 Additional Information for 2021: 1. Purchase investment in bonds for $103,000. 2. Sell land costing $28,000 for only $20,200, resulting in a $7,800 loss on sale of land. 3. Purchase $58,000 in equipment by issuing a $58,000 long-term note payable to the seller. No cash is exchanged in the transaction. 4. Declare and pay a cash dividend of $24,000.