Star Videos, Incorporated, produces short musical videos for sale to retail outlets. The company$$s balance sheet accounts as of January $1$ are given below.

Star Videos, Incorporated

Balance Sheet

January $1$

Assets

Cash $ $90,200$

Accounts receivable $96,200$

Inventories:

Raw materials $($film$,$ costumes$)$ $ $20,200$

Videos in process $56,800$

Finished videos awaiting sale $81,800158,800$

Prepaid insurance $12,700$

Studio and equipment $($net$)542,000$

Total assets $ $899,900$

Liabilities and Stockholders$$ Equity

Accounts payable $ $156,000$

Retained earnings $743,900$

Total liabilities and stockholders$$ equity $ $899,900$