Future Ltd. is a public company and had the following comparative statement of financial position: Future Ltd. Comparative Statement of Financial Position As at December 31 2020 2019 Cash Accounts receivable $20,500 $12,500 34,000 25,500 Inventories Prepaid insurance Equipment 20,000 30,000 2,500 2,000 102,000 90,000 Accumulated depreciation-equipment (22,500) (12,500) Total assets Accounts payable Wages payable $156,500 $147,500 $23,000 $20,000 4,000 2,000 Interest payable 2,000 3,000 Income taxes payable 4,000 5,000 Long-term note payable 30,000 34,500 Common shares 65,000 65,000 Retained earnings 28,500 18,000 Total liabilities and shareholders' equity $156,500 $147,500