Cash$62,460Accounts receivable150,120Inventory195,870Prepaid insurance25,030Equipment493,380Accumulated depreciation84,680Accounts payable63,865Notes payable111,865Common stock200,000Dividends52,870Retained earnings278,420Sales3,384,420Rent revenue (Nonoperating)19,930Cost of goods sold2,390,295Interest expense (Nonoperating)15,410Selling/general/administrative expense550,610Research and development expense168,080Depreciation expense39,055

Current liabilitiesAccounts payable

$Notes payable (current portion)

Total current liabilities$Long-term liabilitiesNotes payable (long-term portion)

Total liabilities$Stockholders' EquityCommon stock

$Retained earnings

Total stockholders' equity$Total liabilities and stockholders' equity