Shown below are comparative statements of financial position for Sheffield Corporation. SHEFFIELD CORPORATION Statement of Financial Position December 31 Assets 2022 2021 Cash $77,520 $25,080 Accounts receivable 96,900 86,640 Inventory 193,800 215,460 Land 91,200 114,000 Equipment 296,400 228,000 Accumulated depreciation - equipment (75,240) (36,480 ) $680,580 $632,700 Liabilities and Shareholders' Equity Accounts payable $44,460 $53,580 Bonds payable 171,000 228,000 Common shares 246,240 198,360 Retained earnings 218,880 152,760