Financial statements for Zachary Company follow ZACHARY COMPANY Balance Sheets As of December 31 2019 2018 Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items $ 25,500 21,500 7,900 52,000 153,000 29,000 14,000 248,400 15,000 245,000 24,000 $592,400 $532,400 21,900 60,000 145,000 Total current assets Investments Plant (net) Land 281,400 22,000 260,000 29,000 Total assets Liabilities and Stockholders' Equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable $ 39,200 73,800 22,000 10,800 60,000 16,000 86,800 Total current liabilities 135,000 Noncurrent 1liabilities Bonds payable other 110,000 25,000 0,000 135,000130,000 216,800 110,000 Total noncurrentliabilities Total liabilities 270,000 Stockholders' equity Preferred stock, (par value $10, 5% cumulative, non-participating; 9,000 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings 90,000 90,000 135,600 322,400315,600 $592,400 532,400 90,000 90,000 142,400 Total stockholders' equity Total liabilities and stockholders' equity