Cash Accounts receivable Inventory Current assets Net fixed assets GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2013 $ 14,652 Accounts payable 20,893 Notes payable 15,173 Current liabilities $ 50,718 Long-term debt $378,869 Owners' equity Total liabilities and $429,587 owners' equity $ 10,535 15,858 $ 26,393 $150,500 $252,694 Total assets $429,587 Cash Accounts receivable Inventory Current assets Net fixed assets GRAFFITI ADVERTISING, INC. Balance Sheet as of December 31, 2014 $ 15,737 Accounts payable 23,209 Notes payable 25,029 Current liabilities $ 63,975 Long-term debt $446,942 Owners' equity Total liabilities and $510,917 owners' equity $ 11,563 18,113 $ 29,676 $167,200 $314,041 Total assets $510,917