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Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled

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Presented here are the comparative balance sheets of Hames Inc. at December 31, 2020 and 2019. Sales for the year ended December 31, 2020, totaled $520,000. HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 24,000 78,000 103,000 $ 205,000 50,000 125,000 65,000) $ 315,000 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000 $ 281,000 Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable Other accrued liabilities Total current liabilities Long-term debt Total liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Beginning balance $ 18,000 66,000 20,000 $ 104,000 22,000 $ 126,000 $ 17,000 75,500 18.000 $ 110, 500 30,000 $ 140,500 574.000 $ 59,000 $ 81,500 $ 85,000

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