Hyrkas 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 Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets $ 230 $ 350 380 400 350 320 20 20 980 1,090 1,240 1,380 $2,220 $2,470 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 320 $ 350 Accrued liabilities Notes payable, short term Total current liabilities Bonds payable Total liabilities Stockholders' equity: Common stock, $2 par value Additional paid-in capital Retained earnings 50 50 40 40 410 440 310 540 720 980 200 200 330 330 970 960 Total stockholders' equity 1,500 1,490 Total liabilities & stockholders' equity $2,220 $2,470