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 $590,000. Assets Cash Accounts receivable Merchandise inventory Total current assets Land Plant and equipment Less: Accumulated depreciation Total assets Liabilities Short-term debt Accounts payable HAMES INC. Balance Sheets December 31, 2020 and 2019 2020 2019 $ 23,000 $ 20,000 72,000 78,000 103,000 $ 204,000 50,000 125,000 (65,000) $314,000 $ 18,000 65,600 20,000 $103,600 22,000 99,000 $191,000 40,000 110,000 (60,000) $281,000 $ 17,000 75,500 18,000 $110,500 30,000 $ 140,500 Other accrued liabilities Total current liabilities Long term debt Total liabilities $ 125,600 Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively $ 74,000 Retained earnings: Beginning balance Net income for the year Dividends for the year Ending balance Total stockholders' equity $ 81,500 52,900 (20,000) $114,400 $188,400 4311 and $ 59,000 $ 85,000 1,500 (5,000) $ 81,500 $ 140,500 381 And