IVANHOE ADVENTURES LTD. Balance Sheet December 31 Assets 2021 2020 Cash $19,350 $5,670 Accounts receivable 34,200 38.250 Inventory 72,000 77.400 Prepaid expenses 5.400 2,250 Land 22,500 33,750 Equipment 121,500 85,500 Accumulated depreciation (40.500) (18,000 ) Total assets $234.450 $224,820 Liabilities and Shareholders' Equity Accounts payable $19.350 $17.100 Dividends payable 3.375 2.250 Income taxes payable 1.125 2.700 Bonds payable 54.000 81,000 Common shares 93.150 75.150 Retained earnings 63.450 46,620 X Total liabilities and shareholders' equity $234450 4224820