Lily Industries' balance sheet at December 31, 2021, is presented below. LILY INDUSTRIES Balance Sheet December 31, 2021 Assets Current Assets Cash $8,250 Accounts receivable 80,850 Finished goods inventory (1,650 26,400 units) Total current assets 115,500 Property, Plant, and Equipment Equipment $44,000 Less: Accumulated depreciation 11,000 33,000 Total assets $148,500 Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders' Equity $27,500 49,500 77,000 Common stock $44,000 Retained earnings 27,500 Total stockholders' equity 71,500 Total liabilities and $148,500 stockholders' equity