Hyrkas Corporation's most recent balance sheet and income statement appear below: Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1 Asset: Current assets Cash Accounts receivable Inventory Prepaid expenses $ 210 $ 220 330 210 20 320 220 20 Total current assets Plant and equipment, net 780 1,027 1,007 770 Total assets $1,797 $1,787 Liabilities and stockholders' equity Current liabilities Accounts payable Accrued liabilities Notes payable, short term $ 270 $ 260 160 220 160 210 Total current liabilities Bonds payable 640 300 640 350 Total liabilities 940 990 Stockholders' equity: Preferred stock, $100 par value, 10% Common stock, $1 par value Additional paid-in capital-common stock Retained earnings 230 100 110 417 230 100 110 320 Total stockholders' equity 857 760 Total liabilities and stockholders' equity $1,797 $1,750