Question 7 of 13 < View Policies Current Attempt in Progress Sage Inc., a greeting card company, had the following statements prepared as of December 31, 2020. SAGE INC. COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 12/31/20 12/31/19 Cash $6,000 $6,900 Accounts receivable 62.500 50,900 Short-term debt investments (available-for-sale) 35.200 17,900 Inventory 40,300 59,500 Prepaid rent 4.900 4,100 Equipment 153.100 129,600 Accumulated depreciation-equipment (35.200 ) (24,700 Copyrights 45.600 50.500 Total assets $312,400 $294.700 Accounts payable $45.500 $40,000 Income taxes payable 4,000 6.100 Salaries and wages payable 8,000 3.900 Short-term loans payable 8,000 9.900 Long-term loans payable 59,400 68.800 Common stock. $10 par 100,000 100.000 Contributed capital, common stock 30,000 30.000 Retained earnings 57.500 36,000 Total liabilities & stockholders' equity $312.400 $294,700 11