Cost of prior issues of debt and preferred stock year issue amount Security Coupon rate Bond 2012 $ 1,120,000 6% Bond 2016 $ 3,000,000 14% Bond 2022 $ 200,000 8% Preferred stock 2017 $ 600,000 12% Preferred stock 2020 $ 480,000 8% Mobile Bionics Statement of financial position Current Assets: Cash Marketable securities Assets 400,000 20,000 Accounts receivable 2,600,000 Less: allowance for bad debts $ 300,000 $ 2,300,000 Inventory 5,500,000 Total current assets $ 8,400,000 Fixed Assets: Plant and equipment, original cost $ 30,700,000 Less accumulated depreciation $ 13,200,000 Net plant and equipment $ 1,750,000 Total assets $ 25,900,000 Liabilities and stockholders equity Current Liabilities: Accounts payable Accrued expenses 6,200,000 $ 1,700,000 $ 7,900,000 Total current liabilities Long Term financing: Bonds payable Preferred stock 69 69 6 6,120,000 1,080,000 6,300,000 Common stock Retained earnings } Common equity $ 4,500,000 Total common equity $ 10,800,000 Total long term financing Total Liabilities and stockholders equity $ 18,000,000 $ 25,900,000