December 31, 2018 Assets 2018 2017 Cash $131,560 $70,400 Accounts Receivable 110,040 95,760 Inventory 217,300 209,200 Office Supplies 1,760 2,600 Prepaid Insurance Property, Plant and 2,340 1,760 578,000 472,000 Equipment Accumulated Depreciation -187,360 -117,360 Patent 25.860 20.000 Total Assets $879,500 $754,360 Liabilities and Shareholder's Equity Accounts Payable $200,500 $189,080 Income Tax Payable 7,500 5,000 Interest Payable Salaries Payable Notes Payable, Due December 31, 2020 3,000 4,000 9,500 6,800 157.000 180.000 Total Liabilities $377,500 $384,880 Common Shares, (50,000 435,000 330,000 shares issued) Retained Earnings 67.000 39.480 Total Liabilities and $879,500 $754.360 Shareholders' Equity Additional information regarding 2018: