Bayshore Industries. Inc BALANCE SHEETS December 31, Year 2 and Year 1 Current assets Cash and cash equivalents Trade receivables - net Inventory Prepaid expenses Total current assets $216,000 $144,000 $72,000 3,434,000 1,971,000 463,000 594,000 18,000 4,478,000 2,331,0002,147,000 40,000 576,0004500 121000 (81,000) 216,000 810,000 18,000 Property and equipment 7,780,000 7,740,000 Less: accumulated depreciation Property and equipment-net 7,204,000 7,285,000 1 Intangibles, less accumulated amortization of 514,400- Year 2 and $7,200-Year 1 Total assets 21600 28,800(7.200) 11,703,600 $9,644,800 $2,058,800 Liabilities and Stockholders' Equity Current liabilities Accounts payable and accrued expenses Line of credit Current portion of long-term debt Total current liabilities $872,600 08,000 $396,800$475,800 18,000 29,000 27000 2,000 495,800 3,069.000 3,098,000 _(29,000) 4,078,60 311,800466,800 90,000 1,009,600 513,800 Long-term debt Total liabilities Stockholders' equity 9,000 5,400,000 5400,000 Common stock 9,000 0 Additional paid-in capital Retained earnings 2,216,000 24000 1592,000 7,625000 6033001592,000 Total liabilities and stockholders' equity 11,703,600 9,644,800 $2,058,800 Total stockholders' equitv