Exercise 14-3 (Video) Here is financial information for Glitter Inc. December 31, 2020 Current assets Plant assets (net) Current liabilities $122,000 393,900 86,030 128,010 165,990 135,870 December 31, 2019 $100,000 325,000 70,000 85,000 110,000 160,000 Long-term liabilities Common stock, $1 par Retained earnings GLITTER INC. Condensed Balance Sheets December 31 Increase or (Decrease) Amount Percentage 2020 2019 Assets Current assets $122,000 $100,000 Plant assets (net) 393,900 325,000 Total assets $515,900 $425,000 Liabilities Current liabilities $86,030 $70,000 Long-term liabilities 128,010 85,000 Total liabilities 214,040 155,000 Stockholders' Equity Common stock, $1 par 165,990 110,000 Retained earnings 135,870 160,000 Total stockholders' equity 301,860 270,000 Total liabilities and stockholders' equity $515,900 $425,000