The balance sheet of Snapshot, Inc., a distributor of photographic supplies, as of May 31 is given below: Snapshot, Inc. Balance Sheet May 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation $ 9,000 77,000 35,000 550,000 Total assets $ 671,000 Liabilities and Stockholders' Equity Accounts payable Note payable Capital stock Retained earnings $101,000 20,000 470,000 80,000 Total liabilities and stockholders' equity $ 671,000