Forten Company, a merchandiser, recently completed its calendar-year 2018 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Recelvable reflect cash recelpts from customers, (3) all purchases of Inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for Inventory, and (5) Other Expenses are pald In advance and are Initially deblted to Prepald Expenses. The company's Income statement, balance sheets, and additional Information follow FORTEN COMPANY Comparative Balance Sheets December 31, 2818 and 2817 2618 2817 AssetS Cash Accounts receivable Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets $ 51,48 74,58 67,319 277,156 1,38e 397,166 156,58e (37,125 51,625 252,880 2,825 388,958 189,88e 25) (46,580) 516, 541 443,458 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term notes payable Total 1iabilities Equity Common stock, $5 par value Paid-in capital in excess of par, common stock Retained earnings Total liabilities and equity $ 54,141 1e,38e 64,441 64,500 128,941 116, 175 6,280 122, 375 49,758 172,125 164,758 39,806 151,75e 183,85 119,573 516, 541 443,458