Some recent financial statements for Smolira Golf, Inc., follow OLIRA GOLF IN Balance Sheets as of December 31, 2013 and 2014 2013 2014 2013 Liabilities and Owners' Equity 2014 Assets Current assets Current liabilities Cash Accounts receivable Inventory 3,211 3,307 Accounts payable 4,767 5,781 Notes payable 12,478 13,782 Other s 2,153 S 2,600 1,750 2,116 107 8 90 Total $20,456 $22,870 Total s 3,993 $ 4,823 Long-term debt Owners' equity $ 13,400 $ 16.160 Common stock and paid-in surplus Accumulated retained earnings $ 38,000 s 38,000 15,654 39,112 $53,654 $ 77,112 $71,047 $ 98.095 Fixed assets Net plant and equipment $50,591 s75,225 Total Total assets $71,047 $98,095 Total liabilities and owners equity SMOLIRA GOLF, ING. 2014 Income Statement Sales Cost of goods sold Depreciation $ 187.370 126,203 5,333