The balance sheet for Plasma Screens Corporation, along with additional information, are provided below PLASMA SCREENS CORPORATION Balance Sheets December 31, 2018 and 2017 2018 2017 Assets Current assets: Cash Accounts receivable Inventory Prepaid rent $155,850 $ 174,600 88,500 73,700 1,300 75,200 88,000 2,600 Long-term assets Land Equipment Accumulated depreciation 445,000 635,000 (409,000) (254,000) 445,000 738,000 Total assets $1,095,650 $ 1,164,100 Liabilities and Stockholders' Equity: Current liabilities Accounts payable Interest payable $ 92,000$ 78,700 14,100 4,300 7,050 6,600 117,500 665,000 Income tax payable Long-term liabilities Notes payable Stockholders' equity: Common stock 235,000 665,000 167,000 Retained earnings 207,500 Total liabilities and stockholders' equity $1,095,650 $ 1,164,100 Additional Information for 2018: 1. Net income is $62,000 2. The company purchases $103,000 in equipment. 3. Depreciation expense is $155,000 4. The company repays $117,500 in notes payable 5 .The company declares and pays a cash dividend of $21,500