Balance Sheet: Assets (the left side) 2020e 2019 Cash 7,282 57,600 A/R 632,160 351,200 Inventories 1,287,360 715,200 Total CA 1,926,802 1,124,000 Gross FA 1,202,950 491,000 Less: Dep. 263,160 146,200 Net FA 939,790 344,800 Total Assets 2,866,592 1,468,800 2-19 Balance Sheet: Liabilities and Equity (the right side) 2020e 2019 Accts payable 524,160 145,600 Notes payable 636,808 200,000 Accruals 489.600 136,000 Total CL 1,650,568 481,600 Long-term debt 723,432 323,432 Common stock 460,000 460,000 Retained earnings 32,592 203,768 Total Equity 492,592 663,768 Total L & E 2,866,592 1,468,800 2-20