McGowan Corporation has provided the following financial data: Balance Sheet Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Plant and equipment, net Total assets Liabilities and Stockholders' Equity 12-31-2020 12-31-2021 $ 105,000 $ 190,000 192,000 200,000 118,000 130,000 41,000 40,000 456,000 560,000 813,000 770,000 $ 1,269,000 $1,330,000 Current liabilities: Accounts payable $ 115,000 $100,000 Accrued liabilities 27,000 30,000 Notes payable, short term 55,000 60,000 Total current liabilities 197,000 190,000 Bonds payable 30,000 130,000 Total liabilities 227,000 320,000 Stockholders' equity: Common stock, $2 par value 100,000 100,000 Additional paid-in capital 60,000 60,000 Retained earnings 882,000 850,000 Total stockholders' equity Total liabilities & stockholders' equity $ 1.269,000 . 1.330.000 1,042,000 1,010,000