The balance sheet and income statement for Joe's Fish Hut are presented below: Joe's Fish Hut Balance Sheet As at May 31 ASSETS Current Assets Cash Accounts receivable Merchandise Inventory 2020 2019 $173,069 $50,500 $23,900 $15,700 $24,900 $29,800 Total Current Assets $221,869 $96,000 Property, plant & equipment $143,000 $198,000 Less: Accumulated depreciation $-29,900 $-21,500 TOTAL ASSETS $334,969 $272,500 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts payable $29,700 $33,700 Notes Payable-Current Portion $8,600 $8,600 Total Current Liabilities $38,300 $42,300 Notes Payable-Long-Term Portion $73,000 $42,000 TOTAL LIABILITIES $111,300 $84.300