Comparative balance sheets and income statements follow. Comparative Balance Sheets At December 31 Year 2 Year 1 Assets Cash $ 72,900 $ 18,100 Accounts receivable, net 31,300 38,400 Inventory 65,600 72,100 Prepaid expenses 4,000 3,300 Total current assets 173,800 131,900 Equipment 80,600 93,500 Accumulated depreciationEquipment (12,500) (7,100) Total assets $ 241,900 $ 218,300 Liabilities and Equity Accounts payable $ 11,400 $ 16,100 Salaries payable 6,800 3,800 Income taxes payable 1,200 2,100 Total current liabilities 19,400 22,000 Notes payable (long-term) 24,800 55,800 Total liabilities 44,200 77,800 Equity Common stock, no par value 170,300 134,800 Retained earnings 27,400 5,700 Total liabilities and equity $ 241,900 $ 218,300 Income State