Bay Inc.'s statement of financial position accounts as of December 31, 2021 and 2020, statement of income and information relating to 2021 activities are presented below. Balance Sheet 2021 2020 Cash 460,000 180,000 Accounts receivable, net 1,380,000 1,270,000 Inventory 890,000 765,000 Property, Plant, and Equipment, net 3,100,000 2,780,000 Total Assets 5,830,000 4,995,000 Accounts payable 1,437,000 1,239,000 31,500 24,750 Income taxes payable Bonds payable Premium on bonds payable Deferred tax liability 1,750,000 1,750,000 125,000 138,000 4,500 5,800 Common Stock ($1par) 1,020,000 1,000,000 Additional paid in capital 980,000 500,000 Retained earnings 482,000 337,450 Total Liability and Equity 5,830,000 4,995,000