Cookie Creations 13 The comparative balance sheet of Cookie & Coffee Creations Inc. at October 31, 2020 for the years 2020 and 2019, and the income statements for the years ended October 31, 2019 and 2020, are presented below. COOKIE & COFFEE CREATIONS INC Balance Sheet October 31 Assets 2020 2019 $22,324 $5,550 Cash Accounts receivable 3,250 2,710 7,897 Inventory 7,450 Prepaid expenses 5,800 6,050 Equipment 102,000 75,500 (25,200) 9,100) Accumulated depreciation Total assets $116,071 $88,160 Liabilities and Stockholders' Equity $1,150 $2,450 Accounts payable 9,251 Income taxes payable 7,200 Dividends payable 27,000 27,000 Salaries and wages payable 7,250 1,280 Interest payable 188 4,000 Note payable current portion Note payable-long-term portion 6,000 Preferred stock, no par, $6 cumulative- 3,000 and 2,800 shares issued, respectively 15,000 14,000 Common stock, $1 par-25, 180 shares issued 25,180 25,180 Additional paid in capital treasury stock 250 250 Retained earnings 20,802 10,800 Total liabilities and stockholders' equity $116,071 $88,160