Selected current year$-$end financial statements of Cabot Corporation follow. $($All sales were on credit; selected balance sheet amounts at December $31$ of the prior year were inventory, $$52,900$; total assets, $$209,400$; common stock, $$88,000$; and retained earnings, $$35,796.$

CABOT CORPORATION

Balance Sheet

December $31$ of current year

Liabilities and Equity

Accounts payable

Accrued wages payable

Income taxes payable

Long$-$term note payable, secured by mortgage on plant assets $70,400$

$88,000$

$68,550$

$\backslash$table$[[88,50],[68,550],[$$$252,750$