The balance sheet for Plasma Screens Corporation along with additional information is provided below:

PLASMA SCREENS CORPORATION Balance Sheet December 31, 2012 and 2011
	2012		2011
Assets:
Current assets:
Cash	$	90,700	$	109,000
Accounts receivable		78,200		91,300
Inventory		94,300		81,000
Prepaid rent		3,500		1,600
Long-term assets:
Land		479,000		479,000
Equipment		797,000		674,000
Accumulated depreciation		(431,000)		(267,000)
Total Assets	$	1,111,700	$	1,168,900
Liabilities and Stockholders' Equity:
Current liabilities:
Accounts payable	$	98,700	$	85,600
Interest payable		6,200		11,900
Income tax payable		8,800		5,400
Long-term liabilities:
Notes payable		99,000		195,000
Stockholders' equity:
Common stock		705,000		705,000
Retained earnings		194,000		166,000
Total liabilities and stockholders