Question 23 Sketchers Corporation's recent comparative balance sheet and income statement follow. Balance Sheets, December 31 2019 2020 Changes Assets Cash and cash equivalents $39,000 $63,800 $24,800 Accounts receivable (net) 68.000 72.200 4,200 Merchandise inventory 156,000 152,000 (4,000) Investments, long-term 20,000 20,000 Plant assets 337,000 361,000 24,000 Accumulated depreciation (88,000) (74,000) 14,000 Total assets $512,000 $595,000 Liabilities and Stockholders' Equity Accounts payable $45,000 $40,000 (5,000) Salaries payable 3,000 1,000 (2,000) Income taxes payable 4,000 7,000 3,000 Interest payable 5,000 5,000 0 Bonds payable, issued at face value 200,000 200,000 0 Common stock, no-par 240,000 311,000 71,000 Retained earnings 15.000 31,000 16,000 Total liabilities and stockholders' equity $512,000 $595,000 8