Balance Sheets \begin{tabular}{|c|c|c|} \hline & 2019 & 2018 \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline Cash and equivalents & $100 & $85 \\ \hline Accounts receivable & 275 & 300 \\ \hline Inventories & 375 & 250 \\ \hline Total current assets & $750 & $635 \\ \hline Net plant and equipment & 2,300 & 1,490 \\ \hline Total assets & $3,050 & $2,125 \\ \hline \multicolumn{3}{|l|}{ Liabilities and Equity } \\ \hline Accounts payable & $150 & $85 \\ \hline Accruals & 75 & 50 \\ \hline Notes payable & 150 & 75 \\ \hline Total current liabilities & $375 & $210 \\ \hline Long-term debt & 450 & 290 \\ \hline Total liabilities & 825 & 500 \\ \hline Common stock & 1,225 & 1,225 \\ \hline Retained earnings & 1,000 & 400 \\ \hline Common equity & 2,225 & 1,625 \\ \hline Total liabilities and equity & $3,050 & $2,125 \\ \hline \end{tabular} Income Statements The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash. cent