iolowing balance sheet and income statement data were taken from the records of L. I. Beeno for the 5,000 ended December 31, 2015: 2015 2014 BALANCE SHEET Cash Accounts receivable Inventory Prepaid insurance $3,000 2,800 4,500 7,800 900 $16,700 $16,000 29,000 26,0 $45,700 $42,000 $ 5,600 $7,300 3,400 5,600 7,500 600 Total current assets Machinery (net) Total Accounts payable Wages payable 4,500 Continued)