Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31, 2023, totaled $510,000. HAMES INCORPORATED Balance Sheets December 31, 2023 and 2022 2023 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 Net income for the year Dividends for the year $23,000 70.000 103,000 $ 204,000 50,000 125,000 (65,000) $314,000 $18,000 65,600 20,000 $ 103,600 22,000 $ 125,600 2022 $ 20,000 72,000 99,000 $191,000 40,000 110,000 (60,000) $ 281,000 $17,000 75,500 18,000 $ 110,500 30,000 $ 140,500 $ 74,000 $ 59,000 $ 81,500. 52,900 (20,000) $ 85,000 1,500 (5,000) $ 81,500 $ 140,500 $ 281,000 Ending balance $ 114,400 Total stockholders' equity $ 188,400 Total liabilities and stockholders' equity $ 314,000