Increase (Decrease) Amount % SPORTS UNLIMITED Balance Sheets For the years ended December 31 Year 2021 2020 Assets Current assets Cash 191,200 $ 105,000 Accounts receivable 76,800 42,000 Inventory 79,200 105,600 Prepaid rent 9,600 4,800 Long-term assets Investment in bonds 122,400 0 Land 202,400 212,400 Equipment 165,600 161,400 Less: Accumulated depreciation (47,200) (31,200) Total assets 800,000 $ 600,000 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 77,600 $ 79,200 Interest payable 24,000 12,000 Income tax payable 23,200 19,200 Long-term liabilities Notes payable 232,800 169,800 Stockholders' equity: Common stock 192,000 192,000 Retained earnings 250,400 127,800 Total liabilities and stockholders' equity S 800,000 $ 600,000 $ &7