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Just Dew It Corporation reports the following balance sheet information for 2017 and 2018. JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Assets Liabilities

Just Dew It Corporation reports the following balance sheet information for 2017 and 2018.

JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets
Assets Liabilities and Owners Equity
2017 2018 2017 2018
Current assets Current liabilities
Cash $ 6,600 $ 12,750 Accounts payable $ 50,000 $ 68,750
Accounts receivable 12,200 14,250 Notes payable 19,000 35,500
Inventory 78,200 95,250
Total $ 97,000 $ 122,250 Total $ 69,000 $ 104,250
Long-term debt $ 48,000 $ 45,000
Owners equity
Common stock and paid-in surplus $ 50,000 $ 50,000
Retained earnings 233,000 300,750
Net plant and equipment $ 303,000 $ 377,750 Total $ 283,000 $ 350,750
Total assets $ 400,000 $ 500,000 Total liabilities and owners equity $ 400,000 $ 500,000

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2017 Sources/Uses 2018 Assets Current assets Cash S S 6,600 12,200 78,200 97,000 12,750 14,250 95,250 122,250 S S 02 S 303,000 400,000 377,750 500,000 S S Accounts receivable Inventory Total Fixed assets Net plant and equipment Total assets Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Total Long-term debt Owners' equity Common stock and paid-in surplus Accumulated retained earnings Total Total liabilities and owners' equity S S 50,000 19,000 69,000 48,000 68,750 35,500 104,250 45,000 S S S S S S 50,000 233,000 283,000 400,000 50,000 300,750 350.750 500,000 S S S S

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