For the Year Ended 12/31/2020 Assets: Cash and marketable securities Accounts receivable Inventories $ 400,000 1,025,000 1,937,500 Prepaid expenses 124,000 Total current assets $3,486,500 Fixed assets 2,800,000 Less: accum, depreciation (1.087,500) Net fixed assets $1,712,500 Total assets $5.199,000 Liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term debt Owner's equity Total liabilities and owner's equity $ 340,000 825,000 42,000 $1,207,000 1,175,000 2,817,000 $5,199,000 Jones Company Income Statement For the Year Ended 12/31/2003 Net sales (all credit) Less: Cost of goods sold Selling and administrative expense Depreciation expense Interest expense Earnings before taxes Income taxes Net income Common stock dividends $7,375,000 (4,312,500) (1,387,500) (135,000) (127,000) 1,413,000 (625,000) $ 788,000 $488,000