Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity 94,000 $104,500 72,500 $ 49,000 56,000 68,800 4,900 6,400 250,700 205,400 129,000 120,000 (29,500) (11,500) $350,200 $313,900 $ 30,000 6,500 $ 37,500 16,000 3,900 4,800 40,400 58,300 35,000 65,000 75,400 123,300 Common stock, $5 par value 230,000 165,000 Retained earnings 44,800 25,600 Total liabilities and equity $350,200 $313,900