Squash Delight, Inc., has the following balance sheet:

Assets

Cash..................................................................................................................................... $ 100,000

Accounts receivable............................................................................................................. $ 300,000

Fixed assets......................................................................................................................... $ 600,000

Total assets ................................................................................................................. $1,000,000

Liabilities

Accounts payable .................................................................. $ 150,000

Notes payable ....................................................................... $ 50,000

Capital accounts

Common stock (50,000 shares @ $2 par) $100,000

Capital in excess of par $ 200,000

Retained earnings $500,000

___________

$1,000,000