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Saved Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31,

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Saved 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 $640,000. HAMES INCORPORATED Balance Sheets Assets Cash December 31, 2023 and 2022 2023 2022 $ 25,000 78,000 $21,000 72,000 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 Long-term debt Total liabilities Total current liabilities Stockholders' Equity Common stock, no par, 100,000 shares authorized 40,000 and 25,000 shares issued, respectively Retained earnings: Net income for the year Beginning balance Dividends for the year Ending balance Total stockholders' equity Total liabilities and stockholders' equity Required: 103,000 $206,000 50,000 125,000 99,000 $ 192,000 40,000 110,000 (65,000) (60,000) $316,000 $282,000 $ 18,000 66,400 $ 17,000- 20,000 76,000 18,000 $ 104,400 $111,000 22,000 30,000 $ 126,400 $141,000 $ 74,000 $ 59,000 $82,000 53,600 $ 85, 2 (20,000) $ 115,600 $ $ 189,600 $ $ 316,000 M

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