Douglass Enterprises Income Statement for the Present Year Sales Costs Taxable Income Taxes Net Income Dividends Addition to ret. earnings Douglass Enterprises Cash Accounts rec. Inventory Current assets Fixed assets $4,840 $4.120 $ 720 $ 245 $ 475 $ 190 $ 285 Balance Sheet for the Present Year $1,010 Accounts payable $ 536 $ 302 Notes payable $1,500 $ 361 Current liabilities $2,036 $1,673 Long-term debt $1,200 $5,200 Common stock $3,000 Retained earnings $ 637