JET BOAT LTD Balance Sheet December 31, 2015 Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory $ 40,000 85,000 100,000 375,000 Total current assets Net plant and equipment 600,000 600,000 Total assets $1,200,000 Liabilities and Shareholders' Equity Current liabilities Accounts payable Bank loans Accrued expenses $ 100,000 125,000 25,000 Total current liabilities Bonds payable Total liabilities 250,000 500,000 750,000 Long-term liabilities Shareholders' equity Common stock Retained earnings 350,000 100,000 450,000 $1,200,000 Total shareholders' equity Total liabilities and shareholders' equity