December 31, 2023, totaled $630,000. HAMES INCORPORATED Balance Sheets December 31, 2023 and 2022 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity 2023 $ 23,000 78,000 103,000 $ 204,000 50,000 125,000 (65,000) $ 314,000 $ 18,000 65, 600 20,000 $ 103,600 22,000 2022 $ 20,000 72,000 99,000 $ 191,000 40,000 110,000 (60,000) $ 281,000 $ 17,000 75, 500 18, 000 $ 110, 500 30,000 $ 140, 500 $ 125, 600 $ 74,000 $ 59,000 $ 81,500 52, 900 (20,000) $ 114, 400 $ 85,000 1,500 (5,000) $ 81,500 $ 188, 400 $ 140, 500 $ 314,000 $ 281,000