FAIRHAVEN INCORPORATED Comparative Balance Sheets June 30, 2019 and 2018 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accumulated depreciation-Equipment Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings 2019 2018 $ 77,000 83,000 $ 25,500 65,000 69,000 96,000 6,200 7,70 235,200 194,200 199,000 184,000 $ 383,200 $ 33,000 (51,000) (17,000) $ 361,200 $ 40,000 7,000 18,000 4,700 5,200 44,700 63,200 43,000 85,000 87,700 148,200 250,000 180,000 45,500 33,000 Total liabilities and equity $ 383,200 $ 361,200 FAIRHAVEN INCORPORATED Income Statement