Pronghorn Ltd. had the following comparative statement of financial position: Pronghorn Ltd. Comparative Statement of Financial Position As at December 31 2023 2022 Cash $22,000 $13,400 Accounts receivable 36,500 27,400 Inventory 21,500 32,250 Prepaid insurance 2,690 2,150 Equipment 109,730 96,750 Accumulated depreciation-equipment (24,100) (13,400) Total assets $168,320 $158,550 Accounts payable $24,720 $21,500 Salaries and wages payable 4,300 2,150 Interest payable 2,150 3,230 Income tax payable 4,300 5,380 Bank loans 32,250 37,010 Common shares 69,900 69,900 Retained earnings 30,700 19.380 Total liabilities and shareholders' equity $168,320 $158,550 Additional information: Net income for the fiscal year was $14.550. Equipment that cost $10,750 was sold for a gain of $1,075 during 2023. The equipment's accumulated depreciation was $7,525.