Financial statements for Thornton Company follow THORNTON COMPANY Balance Sheets As of December 31 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid Items Total current assets Investments Plant (net) Land Total assets Liabilities and Stockholders' Equity Liabilities. Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent Kabilities Nout Year 4 Year 3 $ 24,000 21,600 $ 20,000 7,600 57,000 49,000 142,000 150,000 4 26,000 11,000 237,600 270,600 22,000 290,000 29,000 $611,600 15,000 275,000 24,000 $551,600 113,800 25,000 $ 40,000 $ 17,300 100,000 19,000 178,800 136,300