At the beginning of the second year, MBC had the following balance sheet:

Macro Baking Corp

Balance Sheet

At Jan $1,2023$

Assets: Liabilities:

Cash $ $12,500$ Accounts Payable $ $500$

Accounts Receivable $ $700$ Total Liabilities $ $500$

Supplies $ $630$

Inventories $ $200$ Stockholders Equity:

Common Stock $ $11,770$

Retained Earnings $ $1,760$

Total Stockholders Equity $ $13,530$

Total Assets $ $14,030$ Total Liabilities & Stockholders Equity $ $14,030$