Exhibit for questions 40-50 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years. and the notes payable will be rolled over. Balance Sheet (M Asset 2015 Cash and securities 2,500 Accounts receivable 11,500 Inventories 16,000 Total current assets $30,000 Net plant and equipment 20,000 Total assets $50,000 Liabilities and Equity 9,500 Accounts payable Accruals 5,500 Notes payable 000 Total current liabilities $22,000 Long-term bonds 5,000 Total liabilities $37,000 Common stock 2,000 Retained earnings 11,000 13,000 Total common equity $50,000 Total liabilities and equity