Question Three: Financial statement Analysis Following is a comparative statement of financial position for Sam's Company: < Sam's Company Comparative Statement of Financial Position < December 31, 2020 and 2019 2020 2019 Current assets: < Cash Short-term investments $ 180,000 $ 90,000 90,000 80,000 < Accounts receivable, net Inventory Prepaid expenses 250,000 220,000 < 500,000 430,000 < 30,000 30,000 Total current assets $1,050,000 $ 850,000 Property, plant, and equipment, net 550,000 500,000 < Other assets 200,000 300,000 Total assets Current liabilities: < $1,800.000 $1,650.000 Accounts payable $ 350,000 $ 670,000 Accrued liabilities 200,000 230,000 Total current liabilities $ 550,000 $ 900,000 Long-term debt 180,000 220,000 Total liabilities $730,000 $1,120,000 Shareholders' equity: < Ordinary shares, no par value $ 500,000 $ 500,000 Retained earnings 570,000 30,000 Total shareholders' equity $ 1,070,000 $ 530,000 Total liabilities and shareholders' equity $1,800,000 $1,650.000