Following is the balance sheet of Perez Company for Year 3: PEREZ COMPANY Balance sheet Assets Cash $ 15,050 Marketable securities 7,620 Accounts receivable 13,100 Inventory 11,200 Property and equipment 168,000 Accumulated depreciation (12,400 ) Total assets $ 202,570 Liabilities and Stockholders Equity Accounts payable $ 8,420 Current notes payable 4,000 Mortgage payable 4,200 Bonds payable 21,300 Common stock 114,400 Retained earnings 50,250 Total liabilities and stockholders equity $ 202,570 The average number of common stock shares outstanding during Year 3 was 890 shares. Net income for the year was $15,600.