Excel Activity: Financial Statements, Cash Flow, and Taxes Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown. Laiho Industries: Balance Sheets as of December 31 (thousands of dollars) 2021 2020 Cash $100,985 $ 87,895 Accounts receivable 102,616 86,753 Inventories 37,825 34,136 Total current assets $241,426 $208,784 Net fixed assets 69,059 $310,485 42,773 $251,557 Total assets Accounts payable Accruals $ 31,157 $ 24,110 32,939 16,378 24,370 14,368 $ 64,848 Notes payable Total current liabilities $ 80,474 Long-term debt Total liabilities 75,203 $155,677 64,703 $127,551 Common stock Retained earnings Total common equity 106,500 94,000 48,308 30,006 $154,808 $124,006 Total liabilities and equity $310,485 $251,557