Cooperative Balance Sheets, December 31 Year 2 Year 3 Cash $200 $500 Accounts receivable 2,200 4,000 Prepaid rent 3,000 1,000 Inventory 8,000 5,000 Land 19,000 13,000 Total assets $32,400 $23,500 Accounts $12,000 $6,500 payable Note payable 7,000 10,000 Common stock 6,400 1,500 Putained 7,000 6,500 earnings Total stk. $32,400 $23,500 quity Income Statumunt for Year 2 $20,000 (15,200)