CES KRAUSE INDUSTRIES Balance Sheet December 31, 2016 Assets Current Assets udy Cash Accounts receivable Finished goods inventory (1,500 units) $7,500 73,500 26,190 107,190 Total current assets Property, Plant, and Equipment $40,580 Equipment Less: Accumulated depreciation 10,98029,600 $136,790 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable $26,260 46,550 72,810 Total liabilities Stockholders' Equity $38,510 25,470 Common stock Retained earnings Total stockholders' equity 63,980 $136,790 Total liabilities and stockholders' equity