Krause Industries' balance sheet at December 31, 2019, is presented below. KRAUSE INDUSTRIES Balance Sheet December 31, 2019 Assets Current Assets Cash $ 7,500 Accounts receivable 73,500 Finished goods inventory ( 1,500 units) 24,260 Total current assets 105,260 Property, Plant, and Equipment Equipment $ 40,230 Less: Accumulated depreciation 10,470 29,760 Total assets $ 135,020 Liabilities and Stockholders' Equity Liabilities Notes payable $ 25,440 Krause Industries' balance sheet at December 31, 2019, is presented below. KRAUSE INDUSTRIES Balance Sheet December 31, 2019 Assets Current Assets Cash $ 7,500 Accounts receivable 73,500 Finished goods inventory ( 1,500 units) 24,260 Total current assets 105,260 Property, Plant, and Equipment Equipment $ 40,230 Less: Accumulated depreciation 10,470 29,760 Total assets $ 135,020 Liabilities and Stockholders' Equity Liabilities Notes payable $ 25,440