December 31 Assets 2021 Current assets: Cash $ 42,000 Accounts receivable 530,000I Inventory 5,010,000 Prepaid expenses 34 000 Total current assets 5,716,000 Building and equipment, net 1 09? 000 Total assets g 313 000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable 3; 305,000 Bank loan payable 6T9,000 Other accrued payables 215 000I Total current liabilities 1,499,000 Longterm debt 1 729 000 Total liabilities 3,228,000 Stockholders' equity: Common stock 1,30T,000 Retained earnings 2 2T8 000 Total stockholders' equity 3 535 000 Total liabilities and stockholders' equity W 2020 $ 54,000 445,000 4,050,000 70 000 5,528,000 1 005 000 E 623 000 $ 028,000 025,000 315 000 1,568,000 1701 000 3,350,000 1,30?,000 1 05? 000 3 284 000 m There were 100,000 shares of common stock outstanding throughout both 2020 and 2021. Additional information follows: 2021 Market mice per share at the end of year $ 134 Net income for the year 315,000I Cost of goods sold for the year 2,900,000 Net sales for the year 5,568,000 29211 $ 110 830,000 2,700,000 5,253,000