Stellar Corporation was formed S years ago through a public subscription of common stock. Daniel Brown, who owns 15% of the common stock, was one of the organizers Stellar and is its current president. The company has been successful, but it currently is experiencing a shortage of funds. On June 10, 2018, Daniel Brown approached the Topeka National Bank, asking for a 24-month extension on two $35,140 notes, which are due on June 30, 2018, and September 30, 2018. Another note of $5,960 is due on March 31, 2019, but he expects no difficulty in paying this note on its due date. Brown explained that Stellar's cash flow problems are due primarily to the company's desire to finance a $297,340 plant expansion over the next 2 fiscal years through internally generated funds The commercial loan officer of Topeka National Bank requested the following financial reports for the last 2 fiscal years STELLAR CORPORATION BALANCE SHEET MARCH 31 Assets Cash Notes receivable Accounts receivable (net) Inventories (at cost) Plant & equipment (net of depreciation) 2018 2017 $18,250 148,470 131,230 104,800 1,457,040 $1,859,790 $12,400 131,930 126,700 0,130 1,426,050 $1,747,210 Total assets Liabilities and Owners' Equity Accounts payable Notes payable Accrued liabilitier Common stock (130,000 shares, $10 par) Retained earnings 78,750 75,350 25,450 1,289,340 390,900 $1,859,790 $90,290 61,920 22,040 1,292,930 280,030 $3.747,210 Total liabilities and stockholders' equity