Financial statements for Revnik Company follow. REVNIK COMPANY Balance Sheets As of December 31 2015 2014 Assets Current assets Cash Accounts receivable (net) Prepaid items S 21,000 21,000 51,000 136,000 25,000 S 17,000 7,000 43,000 144.000 10,000 254,000 22,000 260,000 28,000 221,000 15,000 245,000 23,000 Total current assets Plant (net) Land Total assets S 564,000 S 504,000 Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable S 24,600 58,800 25,000 8,300 45,000 19,000 Total current liabilities 108,400 72,300 140,000 Bonds payable Other 140,000 25,000 165,000 273.400 20,000 160,000 232,300 Total noncurrent liabilities Total liabilities Stockholders equity Preferred stock, (par value $10, 4% cumulative non-participating: 8,000 shares authorized and ssued) 80,000 80,000 Common stock (No par, 50,000 shares authorized; 10,000 shares issued) 80,000 80,000 130,600 290,600 S 564,000 111.700 271,700 S 504,000 Retained earnings Total stockholders' equity Total liabilites and stockholders' equity