Balance Sheets as of December 31, 2018 and 2019 2018 2019 2018 2019 Assets Current assets Liabilities and Owners' Equity Current liabilities Cash $ 34,678 $44,680 Accounts payable Accounts receivable Inventory 59,281 130,795 79,639 Notes payable $192,922 88,020 $ 200,611 139,588 197,317 Total $280,942 $340,199 321,636 Total $224,754 $ Long-term debt $243,000 $ 179,750 Owners' equity Common stock and paid-in $212,000 $212,000 surplus Accumulated retained 146,359 179,065 earnings Fixed assets Net plant and equipment 589,378 $657,547 $ Total $358,359 $391,065 Total liabilities and owners' Total assets $882,301 $911,014 $882,301 $ 911,014 equity