Lovepreet International Corporation Balance Sheet December 31, 2019 and 2018 2019 2018 Current assets Cash Short-term investments Accounts receivable, net Inventory Prepaid expenses Total current assets $32,000 8,000 9,000 37,000 14,000 $100,000 $5,000 10,000 23,000 35,000 3,000 $76,000 Property, plant, and equipment, net Other assets Total assets 33,300 37,000 $170,300 35,000 22,500 $133,500 Current liabilities Short-term borrowings Accounts payable Total current liabilities $40,400 30,000 $70,400 $13,900 22,500 $36,400 12ALU ULL Inventory Prepaid expenses Total current assets 37,000 14,000 $100,000 35,000 3,000 $76,000 Property, plant, and equipment, net Other assets Total assets 33,300 37,000 $170,300 35,000 22,500 $133,500 Current liabilities Short-term borrowings Accounts payable Total current liabilities $40,400 30,000 $70,400 $13,900 22,500 $36,400 Non-current debt Total liabilities 37,500 $107,900 33,000 $69,400 Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $20,000 42,400 $62,400 $170,300 $20,000 44,100 $64,100 $133,500 I Additional information for year 2019: Net income from operations Interest expense $38,600 $4.650 Lovepreet International Corporation Balance Sheet December 31, 2019 and 2018 2019 2018 Current assets Cash Short-term investments Accounts receivable, net Inventory Prepaid expenses Total current assets $32,000 8,000 9,000 37,000 14,000 $100,000 $5,000 10,000 23,000 35,000 3,000 $76,000 Property, plant, and equipment, net Other assets Total assets 33,300 37,000 $170,300 35,000 22,500 $133,500 Current liabilities Short-term borrowings Accounts payable Total current liabilities $40,400 30,000 $70,400 $13,900 22,500 $36,400 12ALU ULL Inventory Prepaid expenses Total current assets 37,000 14,000 $100,000 35,000 3,000 $76,000 Property, plant, and equipment, net Other assets Total assets 33,300 37,000 $170,300 35,000 22,500 $133,500 Current liabilities Short-term borrowings Accounts payable Total current liabilities $40,400 30,000 $70,400 $13,900 22,500 $36,400 Non-current debt Total liabilities 37,500 $107,900 33,000 $69,400 Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity $20,000 42,400 $62,400 $170,300 $20,000 44,100 $64,100 $133,500 I Additional information for year 2019: Net income from operations Interest expense $38,600 $4.650