The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut ASSETS Current Assets Cash Balance Sheet As at July 31 2019 2018 $191,702 $55,700 Accounts Receivable Merchandise Inventory Total Current Assets $24,400 $16,900 $24,300 $29,500 $240,402 $102,100 Property, Plant & Equipment $130,000 $198,000 Less: Accumulated Depreciation $-28,200 $-21,300 TOTAL ASSETS $342,202 $278,800 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable $31,700 $41,000 Bank Loan-Current Portion $6,300 $6,300 Total Current Liabilities $38,000 $47,300 Bank Loan-Long-Term Portion $71,000 $43,000 TOTAL LIABILITIES $109,000 $90,300 Shareholders' Equity Share Capital Retained Earnings $84,000 $56,100 $149,202 $132,400 TOTAL SHAREHOLDERS' EQUITY $233,202 $188,500 TOTAL LIABILITIES AND EQUITY $342,202 $278,800