The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut ASSETS Balance Sheet As at April 30 2020 2019 Current Assets Cash $159,009 $66,400 Accounts receivable $19,600 $14,600 Merchandise inventory $23,200 $27,000 Total Current Assets $201,809 $108,000 Property, plant & equipment(1) $140,000 $193,000 Less: Accumulated depreciation $-28,600 $-23,900 TOTAL ASSETS $313,209 $277,100 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $28,800 $39,300 Notes payable-current portion $8,500 $8,500 Total Current Liabilities $37,300 $47,800 Notes payable-long-term portion $87,000 $57,000 TOTAL LIABILITIES Shareholders' Equity Common shares $124,300 $104,800 $73.000 $55.500