The balance sheet for Plasma Screens Corporation and additional information are provided below Balance Sheet December 31,2015 and 201 15 2014 Assets Current assets: Cash Accounts receivable Inventory $ 189,880 S 113,000 85,000 64,000 88,000 3,30073,000 1,300 Long-term assets: Land Equipment Less: Accumulated depreciation 410,000410,000 720,000600,000 (358,000)(198,000) Total assets $ 1.117.180$ 1,084,300 Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable $ 92,000$78,000 11,300 4,300 5,300 7,300 Income tax payable Long-term liabilities: Notes payable 20,000 240,000 Stockholders' equity Common stock Retained eamings 630,000 630,000 262,580120.700 Total liabilities and stockholders equity S1.117,180 $1.084.300 ir Additional information for 2015: 1. Net income is $62,000. 2. Sales on account are $1.281,400. 3. Cost of goods sold is $1,014,300