Freiman Corporation's most recent balance sheet and income statement appear below: Balance Sheet December 31, Year 2 and Year 1 (in thousands of dollars) Assets Year 2 Year 1 Current assets: Cash $ 190 $ 150 Accounts receivable, net Inventory Prepaid expenses Total current assets. Plant and equipment, net Total assets 295 315 150 160 55 55 690 680 850 850 $ 1,540 $ 1,530 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Notes payable, short term Total current liabilities $ 160 105 $ 180 105 75 85 340 370 325 335 665 705 Bonds payable Total liabilities Stockholders' equity: Common stock, $2 par value Additional paid-in capital Retained earnings Total stockholders' equity 130 130 275 275 470 420 875 825 Total liabilities & stockholders' equity $ 1,540 $ 1,530