Financial statements for Baird Company follow BAIRD COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items $ 17,000 13,000 6,200 35,000 136,000 12,000 202,200 25,000 250,000 23,000 $560,200 $500,200 20,200 43,000 128,000 27,000 235,200 32,000 265,000 28,000 Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable 113,800 23,000 155,600 18,800 12,500 100,000 17,000 Total current liabilities 129,500 Noncurrent liabilities Bonds payable Other 120,000 26,000 146,000 301,600 120,000 21,000 Total noncurrent liabilities Total liabilities 270,500 Stockholders' equity Preferred stock, (par value $10.4% cumulative, non-participating: 7,000 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings 70,000 70,000 118,600 70,000 70,000 89,700 Total stockholders' equity Total liabilities and stockholders' equity $560,200 $500,200