Balance Sheets Assets 2020 2021 2022E Cash and equivalents $ 60 $ 50 $ 50 60 Short-term investments 100 10 50 Accounts receivable 400 520 530 Inventories 620 820 660 Total current assets $1,180 $1,400 $1,300 Net Fixed Assets 2,900 3,500 3.700 Total Assets $4,080 $4,900 $5,000 Liabilities and equity 2020 2021 2022E Accounts payable $ 300 $ 400 $ 330 Notes payable 50 250 100 Accruals 200 240 270 Total current liabilities $ 550 $ 890 $ 700 Long-term bonds 800 1.100 1.100 Total liabilities $1,350 $1,990 $1,800 Common stock (100,000 shares) 1,000 1,000 1,000 Retained earnings 1,730 1.910 2.200 Total common equity $2.730 $2.910 $3,200 Total liabilities and equity $4,080 $4,900 $5,000 Note: "E" denotes the "estimated forecast."