Please refer to the following balance sheet:

Assets			Liabilities
Current assets:			Current liabilities:
Cash	$1,700		Accounts payable	$1,200
Accounts receivable	10,500		Salary payable	980
Supplies	20		Unearned revenue	600
Total current assets		$12,220	Total current liabilities	2,780
Plant assets:			Long-term liabilities:
Equipment	12,500		Notes payable	5,000
Less: Accumulated depreciation	2,240	10, 260	Total liabilities	7,780
			Owner