financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2014, were inventory, $53,900; total assets, $239,400; common stock, $86,000; and retained earnings, $36,474.) Income State For 31, 2015 $ 448,600 296,950 Cost of goods sold 151,650 99,600 4,700 ross 47,350 19,074 S 28,276 CABOT CORPORATION Sheet December 31,2015 Liabilities and Equity Cash Short-term in s 17,500 3,000 3,700 $ 8,000 Accounts payable 9,000 30,800 5,000 34,150 3,100 Accrued wages payable Income taxes payable Long-term note payable, secured net by mortgage on plant assets64,400 86,000 stock Plant assets, net Retained eamings 64,750 $ 239,350 Total liabilities and equity $ 239,350