Carta Vacompany rumaretail company and recently completed its third year of operations. The balance sheet and income statement follow Assets 2014 2013 Cash 550,880 20,160 $55.776 23.328 Accounts receivable Inventory 29,568 28,032 Equipment 88 320 118.000 27.360 Accumulated depreciation 23.232 5172.224 Total assets $191,328 Liabilities and Equity Accounts payable Income taxes payable $34848 $31680 10.560 7680 26,880 34 560 Long-term notes payable Common stock: $2 par 14.000 11520 Paid In capital in excess of par 29.760 36.480 68.160 Retained earnings 57024 Total liabilities and equity 5191,328 5172224 Question 47 of 47